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Dollar Gains Continue, AUD and NZD Underperforming

FOREX

The USD is probing higher in recent dealings, the BBDXY up around 0.10% to 1262.8. This is fresh highs in the index back to Nov last year.

  • Most strength is concentrated in against AUD and NZD, both off around 0.2% at this stage. AUD/USD is sub 0.6430, NZD/USD is under 0.5900. This is fresh YTD lows for both currencies.
  • USD/JPY is only a touch higher, last just above 154.30. We are seeing fresh comments from cabinet Secretary Hayashi on FX in Japan
  • Negative equity sentiment throughout the region is not helping, while US yields are close to flat at this stage.
  • More broadly, this looks to be a continuation of USD gains.
  • Coming up a little later we have China house prices, Q1 GDP and March activity figures.
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