The NZD/USD has traded between 0.7780 and 0.7880 over the past 24-hours sitting at the lower end of this range currently. Overnight, as the market awaited this morning’s release of US FOMC Minutes (see Majors), most currencies were on an uptrend relative to the USD. The NZD/USD was notable in that it actually drifted slightly lower into the release. The Minutes provided some mixed messages resulting in market volatility thereafter. The NZD/USD spiked from 0.7800 to 0.7860 and back again within a very short period.
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