The NZD has been the worst performing currency over thepast 24-hours, losing a further 1.1% relative to the USD. The NZD/USD trades at 0.7770 this morning.The NZD suffered another body blow yesterday afternoonafter the release of RBNZ fx transaction figures for August.These showed the Bank sold NZ$521m in the month, morethan we had expected. For reference, this is more than inany month during the late 2012/early 2013 selling (where amaximum of NZ$256 m was sold in a single month). Still, itwas less than the amount sold in 2007 (max NZ$1.5b inone month).
Read the full report: FX Daily