By Dan Bell
The NZD/USD opens at 0.8020 this morning as risk appetite surged after comments from the ECB President Draghi.
Mario Draghi said that the ECB could act more decisively in the region’s crisis, and that they were “ready to do whatever it takes” to preserve the single currency.
With the market so heavily positioned short-Euro, any good news from the region seems to have an exaggerated effect.
The NZD was underpinned yesterday by an as expected RBNZ statement – 2.50% is appropriate for the time being.
Stock markets soared on the ECB rhetoric – Dow Jones +1.67%, S&P +1.65%, FTSE +1.36%.
The NZD opens the crosses - 0.7710 AUD, 0.6525 EUR, 0.5110 GBP and 62.70 JPY. A quiet day locally for data – Japanese retail sales 11.50am - have a good weekend.
-------------------------------------------------------------
To subscribe to our daily Currency Rate Sheet email, enter your email address here.
-------------------------------------------------------------
Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
No chart with that title exists.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.