The NZDUSD opens higher at 0.8376 this morning.
The NZ$ rose yesterday afternoon Fonterra unveiled a $615 million joint venture with China's Beingmate, and unexpectedly affirmed its forecast milk price.
The USD$ softened overnight as traders continued to add risk currencies to their portfolios.
The US dollar index is currently down -0.25%
Global equity markets were little changed- Dow +0.01%, Nikkei +0.09%, Shanghai +0.1%, FTSE +0.12% DAX -0.1%
Gold prices are holding steady at USD$1283, oil prices are slightly lower at -0.01%.
The current indicative mid-rates are:
NZDUSD 0.8376
NZDEUR 0.6345
NZDGBP 0.5052
NZDJPY 86.99
NZDAUD 0.8971
NZDCAD 0.9085
There are no domestic data releases 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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