By Dan Bell
The NZD/USD opens lower at 0.8380 this morning after a night punctuated [by] Japanese Yen weakness and North Korean incited risk aversion.
The Japanese deputy economy minister stated that he was happy with the JPY at current levels and could see it weakening further, pushing USDJPY back to the key 90.00 level.
North Korean threats of their first nuclear testing since 2009 saw an air of risk aversion take hold, pushing the NZD and the AUD lower against the USD.
The AUD is weaker after RBA board member Heather Ridout said the economy will require “active management” to cope with the slowing mining boom and high AUD dollar.
Stock markets currently: Dow Jones +0.29%, S&P -0.03 %, FTSE 1.09%.
The NZD opens the crosses - 0.8010 AUD, 0.6270 EUR, 0.5315 GBP, 75.30 JPY, 0.8405 CAD.
No domestic data today – Japanese monetary policy minutes at 12.50pm.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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