Currencies: The US dollar index fell around 0.4%. EUR rose from 1.3090 to 1.3194, helped by Mersch’s comments. The Norwegian krone was the standout performer overnight, USD/ NOK falling 2.0% after the central bank retained its distant tightening bias (noting currency weakness this year). USD/JPY did little between 98.60 and 99.00. AUD consolidated its multi-week decline, bouncing off 1.0155 to 1.0208. NZD similarly ranged between 0.8372 and 0.8414. AUD/NZD slightly extended its earlier bounce (fed by RBNZ intervention comments) to 1.2170.
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Westpac