The NZD/USD opens at 0.8420 this morning after spending most of the evening hovering around the 0.8380 mark.
Yesterday’s Bank of Japan announcement of 7 trillion JPY of stimulus was much more than the market expected, seeing the JPY hammered, and NZDJPY trading up over 81.00, the highest level since July 2008.
Euro rates remained on hold at 0.75%, but ECB head Draghi emphasised the economic risks that remain in the region – are they priming the market for an eminent policy announcement?
Stock markets currently: Dow Jones +0.21%, S&P +0.30 %, FTSE -1.19%.
The NZD opens the crosses - 0.8070 AUD, 0.6505 EUR, 0.5525 GBP, 80.90 JPY, 0.8520 CAD.
A light data day today, but plenty to come tonight – EUR Retails and GDP, US Trade Balance and US Employment figures.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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