The NZD/USD opens around 0.8340 this morning after a relatively quiet night across global markets.
US stocks are mixed with the S&P 500 down 0.15% and the Dow Jones Index up 0.02%. Commodities are mostly firmer with oil prices up 0.37% and gold up 0.17%.
The Governor of the Peoples Bank of China announced they will work towards ending domestic FX intervention and liberalise the Chinese currency further.
Fed Chair nominee Janet Yellen was quoted again saying Fed policy would remain highly accommodative.
The NZD opens at 0.8864 AUD, 0.6170 EUR, 0.5170 GBP, 83.70 JPY, 0.8748 CAD.
Fonterra Global Dairy Trade auction this morning was up 0.1% on last fortnight. Average prices remain over 40% higher than a year ago!
Not much to report on the local front today. The focus will be on a speech Fed Chairman Ben Bernanke is giving in the US around 1pm NZT.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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