The NZD/USD opens around 0.8240 this morning, down over a cent from last week’s highs.
The US Dollar strengthened against most major currencies after better than expected US employment data on Friday night.
The US produced 204K new jobs in October compared to expectations of +120K and previous months were revised up which has increased the odds of a reduction in bond-buying at the Fed’s Dec. 17-18 meeting.
The NZD is at current interbank mid rates: 0.8791 AUD, 0.6178 EUR. 0.5154 GBP, 81.83 JPY, 0.8647 CAD.
US stocks finished the week on a positive note with the S&P 500 up 1.34% to new all time highs.
Nothing to report on the local front today. REINZ House Prices tomorrow will be of interest. Memorial Holiday in the US will make for a quiet start to the week.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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