The NZD/USD opens lower at 0.7980 this morning having lost 1.5 cents since the start of the week.
Yesterday’s announcement by Governor Wheeler about LVR restrictions coming in October saw the Kiwi trade lower.
The market has also broadly backed the USD in anticipation of some details around Fed tapering in tomorrow morning’s FOMC meeting minutes.
The EUR had a good night, trading at 1.3410 against the USD, after good German PPI data. Angela Merkel talked down questions of another Greek bailout – a view in direct contrast to one given shortly later by German finance minister.
Stock markets currently: Dow Jones -0.05%, S&P +0.38%, FTSE -0.19%.
The NZD opens the crosses - 0.8800 AUD, 0.5950 EUR, 0.5090 GBP, 77.60 JPY, 0.8285 CAD.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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