The NZD has been the strongest performing currency over the past 24 hours, shrugging off a EUR-inspired firming in the USD. The NZD/USD spent most of the overnight session consolidating 20 points either side of 0.8200. Dips in the NZD continue to be met with heavy buying from the local export community. Strong hedging demand from this sector provided a steadying influence on the currency yesterday. From 0.8180, the NZD/USD was squeezed back above 0.8200. These gains were sustained through the offshore session, despite a miserable night for the EUR.
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