The NZD was the weakest performing currency at the startof the week, now sitting 0.7% lower relative to the USD, at0.8350. Most of the fall in the NZD/USD occurred soon after theopen yesterday morning. The sudden sharp fall promptedspeculation of RBNZ intervention, but this was entirelyunsubstantiated. More broadly the NZD is the victim ofcontinued USD strength at the start of the week. TheNZD/USD soon found its feet at 0.8350 yesterday morningand has traded around that level since.
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