By Dan Bell
The NZD/USD saw a low of 0.7620 this morning, after another evening dominated by the poor European outlook.
Although ECB head Draghi has stated a ‘preference’ for Greece to remain in the Euro, the ECB has also frozen lending to some Greek banks.
The withdrawals from the Greek banking system that were mentioned yesterday (700mil EUR), actually equated to 1.2bn EUR over Monday and Tuesday this week.
Fed minutes did little to appease markets, even though more members than last time suggested QE3 may be necessary.
Stock markets all lower again; FTSE -0.6%, Dow Jones -0.26%, S&P -0.44%
The NZD opens lower on the crosses - 0.7710 AUD, 0.6005 EUR, 0.4800 GBP and 61.30 JPY.
Little data to speak of today, NZ PPI numbers due out 10.45am NZT
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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