The pair sits 61bps lower on the day at $0.8824 after the RBNZ Governor Wheeler issued an emailed statement saying that the level of the NZD was “unjustified and unsustainable,” prompting a sharp fall in the Kiwi and also the AUD, which had already looked weak along with all commodity currencies earlier in the morning. In contrast, the comments from the RBA’s Stevens around lunchtime were of little consequence for markets, with the RBA continuing it’s steadfastly dull and directionless stance. The AUD remains below old support at $0.8830, buyers seen at $0.8800/10 and stops below, then bids again at $0.8785. Sellers at $0.8900, $0.8925-35, $0.8950-60 then $0.8985 to $0.9010.
