* Aussie resilient to lower commodity prices, geopolitical risk

* Euro down 0.6 pct vs AUD for the week

* NZD hurt by fall in business confidence

By Cecile Lefort and Naomi Tajitsu

WELLINGTON/SYDNEY, Aug 29 (Reuters) - The Australian dollar held near 2014 peaks versus the euro, yen and pound on Friday, putting it on track for a 0.6 percent monthly gain, while the New Zealand dollar slipped following another drop in business confidence.

Yet again, the Australian dollar AUD=D4 proved resilient to rising tensions between Ukraine and Russia and a sharp decline in the price of iron ore .IO62-CNI=SI , Australia's top export earner.

It held steady at $0.9352, not far from a three-week peak of $0.9374 touched Thursday, to show a 0.6 percent increase for the month. The Aussie remained firmly entrenched in the 92-95 U.S. cent range seen for much of this year.

Joseph Capurso, a strategist at Commonwealth Bank of Australia, sees a period of volatility for the Aussie as next week is packed with events including the Reserve Bank of Australia's monthly policy meeting on Tuesday and gross domestic product data (GDP) the next day. AU/ECI

"The RBA may tweak its language and a negative GDP reading could also move the Aussie a fair bit," he said. CBA expects GDP to rise between 0.3 and 0.5 percent for the second quarter, but there is a risk it might show a contraction. ECONAU

Dealers cited selling orders around $0.9375/80, with a large amount of stops above 94 cents.

Against other currencies, the Aussie was underpinned by demand from carry trade investors, borrowing in a currency to buy higher-yielding Aussie dollar assets.

The Aussie held near 10-month peaks against a battered euro which skidded as far as A$1.4056 EURAUD=R to show a loss of nearly 1 percent for the week. The common currency is down more than 2 percent this month largely due to growing expectations of another round of policy easing by the European Central Bank.

The Aussie kept near 15-month peaks on the yen AUDJPY= and the highest since November against its soggy kiwi neighbour AUDNZD=R .

The New Zealand dollar has come under broad pressure due to falling milk prices and expectations the Reserve Bank of New Zealand will slow its tightening pace.

The kiwi slipped to $0.8361 NZD=D4 , from $0.8408 offshore and looked poised to end the month 1.6 percent lower.

It took a fresh hit after a survey showed New Zealand business confidence falling for a sixth consecutive month in August. ID:nW9N0PX01Q

"There were strong bids (around $0.8300) earlier in the week, but we've got very little down there now," said Tim Kelleher, head of institutional sales at ASB in Auckland.

The kiwi may face more selling risk ahead of a general election on Sept. 20. While the latest media polls show the ruling National party winning around 50.8 percent of the vote, support has been waning, raising the risk of a hung parliament.

"The market had been thinking it would be a National shoe-in but the closer we get, there's nothing priced in for a hung parliament," Kelleher said. Options volatility in the kiwi could rise in the coming weeks as investors hedge against political risk, he added.

Most New Zealand government bonds 0#NZTSY= were little changed on the day, although demand at the long end of the curve nudged the yield on 2027 bonds 1 basis point lower.

Australian government bond futures rose, with the three-year bond contract YTTc1 up 1 tick at 97.370. The 10-year contract YTCc1 added 3 ticks to 96.720, near this year's peak of 96.740.

Cash government 10-year bond yields remained close to their lowest in more than a year with Australian debt AU10YT=RR at 3.30 percent and New Zealand debt at 4.12 percent.

(Editing by Shri Navaratnam) ((Cecile.Lefort@thomsonreuters.com)(+61 2 9373-1234)(Reuters Messaging: cecile.lefort.thomsonreuters@reuters.net))

Keywords: MARKETS AUSTRALIA/FOREX