By Dan Bell
The NZD/USD opens around 0.81 this morning after making a low of 0.8051 and a high of 0.8112.
US equity markets are currently trading slightly lower on the day with the S&P500 currently down 0.2%.
The focus remains on the Greece debt restructure discussions.
EU finance officials rejected the offer made by private bond holders yesterday.
While negotiations continue credit rating agency S&P came out and said the evolving Greek deal will still result in a default rating for the country.
Portugal has also been in the headlines last night with rumours they will need a second bailout.
The NZD remains firm against most major cross rates and opens at 0.7730 AUD, 0.6220 EUR, 0.5195 GBP, 63.00 JPY.
Not much to report on the local front today - from Australia we get CPI numbers at 1:30 NZT.
A weaker CPI number should see further upside in NZDAUD as further rate cuts are anticipated in Australia.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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