Antipodean currencies such as the Australia and the New Zealand dollars weakened against their major currencies in the Asian session on Friday, as the Asian shares fell amid renewed concerns about the U.S. Fed further postponing its first interest rate cut to after June, following the release of hotter-than-expected producer price inflation data for February.

According to analysts, sticky February U.S. consumer and producer price inflation figures would be enough to knock the U.S. central bank off course for rate cuts in June.

Losses in mining, financial and technology stocks, also weighed on the investor sentiment.

Moreover, Asian markets traded lower, with Hong Kong's Hang Seng index falling more than 2 percent as the People's Bank of China held a key rate steady and drained cash from the banking system on a net basis, signaling a cautious approach of using its monetary policy to boost growth.

Also, data showed China's home prices dropped 1.4 percent year-on-year in February, marking the steepest drop in 13 months amid regulatory crackdowns.

In economic news, data from BusinessNZ showed that the manufacturing sector in New Zealand continued to contract in February, albeit at a slower pace, with a Performance of Manufacturing Index score of 49.3. That's up from the upwardly revised 47.5 reading in January, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

In the Asian trading today, the Australian dollar fell to a 3-day low of 1.6542 against the euro and a 2-day low of 97.33 against the yen, from yesterday's closing quotes of 1.6529 and 97.59, respectively. If the aussie extends its downtrend, it is likely to find support around 1.67 against the euro and 95.00 against the yen.

Against the U.S. and the Canadian dollars, the aussie dropped to a 9-day low of 0.6557 and an 8-day low of 0.8881 from Thursday's closing quotes of 0.6580 and 0.8904, respectively. The aussie may test support near 0.64 against the greenback and 0.87 against the loonie.

The NZ dollar fell to a 1-1/2-month low of 1.0770 against the Australian dollar and a 4-day low of 90.44 against the yen, from yesterday's closing quotes of 1.0729 and 90.91, respectively. If the kiwi extends its downtrend, it is likely to find support around 1.08 against the aussie and 89.00 against the yen.

Against the U.S. dollar and the euro, the kiwi dropped to 9-day lows of 0.6095 and 1.7839 from Thursday's closing quotes of 0.6129 and 1.7742, respectively. The kiwi may test support near 0.59 against the greenback and 1.80 against the euro.

Meanwhile, the safe-haven currency, or the U.S. dollar rose against its major rivals in the Asian session amid risk aversion.

The U.S. dollar rose to 8-day highs of 1.0873 against the euro and 148.66 against the yen, from yesterday's closing quotes of 1.0881 and 148.32, respectively. If the greenback extends its uptrend, it is likely to find resistance around 1.07 against the euro and 150.00 against the yen.

The greenback edged up to 1.2730 against the pound, from yesterday's closing value of 1.2751. On the upside, 1.26 is seen as the next resistance level for the greenback.

Against the Swiss franc and the Canadian dollar, the greenback advanced to 9-day highs of 0.8851 and 1.3543 from Thursday's closing quotes of 0.8838 and 1.3532, respectively.The greenback may test resistance around 0.89 against the franc and 1.36 against the loonie.

Looking ahead, Canada housing starts for February and wholesale sales data for January, U.S. import and export price indices for February, U.S. NY Empire State manufacturing index for March, U.S. industrial production for February, U.S. University of Michigan consumer sentiment for March and U.S. Baker Hughes oil rig count data are slated for release in the New York session.

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