The NZD/USD opens at 0.7850 this morning having traded back down to a low of 0.7769 overnight.
Fed Chairman Bernanke’s speech yesterday caused the US dollar and US interest rates to consolidate, stock markets and the NZD and AUD to rally.
In reflection, not much new was said and the US clawed back some of its losses in the overnight session – high volatility confirming the current market uncertainty.
Stock markets currently: Dow Jones +1.11%, S&P +1.40 %, FTSE +0.59%.
The NZD opens the crosses - 0.8535 AUD, 0.5985 EUR, 0.5160 GBP, 77.55 JPY, 0.8150 CAD.
No domestic data today – US PPI and Consumer Sentiment tonight – have a good weekend.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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