The NZD was amongst the weakest performers overnight as risk aversion dominated markets. The NZD/USD sits at 0.7800 currently.
There was little on the local agenda to drive the currency yesterday. Rather, the market remained focused on escalating tensions in the Middle-East and further signs of stress in emerging market currencies. In an environment of broad risk aversion the ‘risk-sensitive’ NZD came under selling pressure along with the AUD
Read the full report: FX Daily
BNZ