By Dan Bell
The NZD/USD opens at 0.8120/0.8140 after slipping to a low of 0.8105 overnight.
The NZD has been one of the weakest currencies overnight following CPI data yesterday which showed inflation at a 13 year low less than 1%.
The NZD opens at current indicative mid rates: 0.7920 AUD, 0.6230 EUR, 0.5048 GBP, 64.10 JPY, 0.8025 CAD.
Fonterra Dairy Trade Auction results this morning saw prices up an average 1.8%.
RBA minutes yesterday provided no new insights - if anything they were less dovish than expected and gave more reason to question the likelihood of a rate cut at their next meeting.
The EUR continues to rally against most major currencies on expectations of a Spanish bailout.
Better than expected corporate earnings results in the US have given stocks a lift with the S&P 500 currently up 0.82%.
Nothing to report from New Zealand today.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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