By Dan Bell
The NZD/USD opens at 0.8030 this morning after trading to an interbank high of 0.8074 overnight and a low of 0.80.
A number of central banks made announcements last night - the European Central Bank cut rates by 25bps to a record low of 0.75%, the Bank of England didn’t cut rates but increased their money printing efforts by another £50bn to £375bn and the Peoples Bank of China surprised the market by cutting their main lending rate by 31 points to 6.00%.
The NZD surged to new all time highs against the EUR to make an interbank high just over 0.65 at one stage.
NZD/GBP opens at 0.5170 after hitting a high of 0.5186. NZD/AUD is relatively unchanged at 0.78.
Nothing to report on the local front. The focus will be on the US Employment Report this evening.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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