Free Trial

NZD/USD stuck to the bottom of the G10 pile...>

FOREX
FOREX: NZD/USD stuck to the bottom of the G10 pile on Thursday after the RBNZ
pushed out expectations for a rate hike. The move triggered NZD weakness across
the board, with NZD/USD printing multi-year lows of $0.6612. AUD/NZD spiked
through NZ$1.1100 to highs of NZ$1.1175.
- Investors moved into safe-havens through NY amid a backdrop of rising
geopolitical and trade tensions, with EMFX taking a hit. The JPY crosses
witnessed sharp losses, adding weight to the majors. EUR/JPY breached cloud base
support to Y128.21, the move pressured EUR/USD, with the cross trading below the
Aug 06 low ($1.1530).
- GBP/USD's recovery, triggered by reports of a potential EU compromise re:
Brexit, stalled just above $1.2900, with the subsequent reversal extending to
fresh 11-month lows of $1.2820.
- USD/CHF briefly traded through CHF0.9900 for the first time since Jul 31,
before staging a recovery to the ~CHF0.9940 area. - AUD/JPY led sales pressured
AUD/USD through $0.7400 to lows of $0.7372.
- Focus on U.S. CPI, RBA SoMP, Japanese & UK GDP on Friday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.