By Dan Bell
The NZD/USD opens around 0.8250/0.8270 this morning after a relatively quiet night across global markets.
US stocks are trading in positive territory with the Dow Jones Index at new all time highs over 14,420.
The USD has consolidated recent gains against most major currencies.
The recent momentum in the US economy and US stocks has been positive for the US Dollar - the so-called ‘risk on’ ‘risk off’ dynamic that has been driving the US Dollar for the last 5 years is starting to break down.
The NZD opens at 0.8043 AUD, 0.6337 EUR, 0.5533 GBP, 79.55 JPY, and 0.8478 CAD.
Not much to report on the local front today- from Australia we get NAB Business Confidence.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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