Having failed to crack 0.8700 overnight, the NZD/USD is 0.3% lower this morning at 0.8640. Both the AUD and the NZD drifted higher into yesterday evening, before the market took some risk off the table following poor European growth and US industrial production data (see Majors). Our Risk Appetite Index sits at 72.5% this morning, down from 77.4% at the start of the week. No wonder then, that the risk-sensitive AUD and NZD are the worst performing majors against the USD.
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