After sliding lower in Asia yesterday, weak commodity prices and a firmer USD have kicked the NZD/USD even lower overnight. It currently trades around 0.7980, about ½ cent below levels this time yesterday.
The AUD came close to full capitulation yesterday, following an extremely dovish outburst from RBA Governor Stevens. The fact it did not fall even further probably reflects caution ahead of the large slab of global event risk about to hit markets (starting with tomorrow morning’s FOMC Statement).
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