After marching higher yesterday, the NZD/USD has failed to retain its foot hold above 0.7900. It currently trades around 0.7890. The surprising thing is that the NZD is not even weaker. Not only did the kiwi have to absorb some significant selling from macro and Asian real money accounts overnight, but the USD is once again in the ascendancy.
Read the full report: FX Daily
BNZ