NZDUSD put in the biggest one day move lower seen so far in 2014, after the RBNZ explicitly commented on the unsustainable nature of recent NZD strength, and signalled a period of pause for rates.
US jobless claims beat expectations by nearly 10%, while UK retail sales disappointed, sending GBPUSD to one month lows.
Both France and Germany reported improving business conditions, helping the EUR off 8 month lows.
US stocks edged up to fresh record highs overnight, despite mixed corporate earnings results.
ANZ's Business Activity Outlook is released later today.
Current indicative mid rates:
NZDUSD 0.8580
NZDEUR 0.6370
NZDGBP 0.5050
NZDJPY 87.30
NZDAUD 0.9115
NZDCAD 0.9215
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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