The NZD was basically side-lined overnight. From above 0.7830, the NZD/USD dribbled back below 0.7800 as markets suffered another case of butterflies and speculative selling weighed on NZD/AUD. The AUD has been the strongest performing currency over the past 24 hours. The RBA yesterday held its cash rate at 2.5% as everyone expected. But the accompanying statement was seen as another step towards a ‘neutral’ policy stance. There was no hint of the easing bias many had been looking for.
Read the full report: FX Daily
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