There were further loses for the New Zealand Dollar (NZD) yesterday, despite the release of positive data on the country’s current account. The main reason for the losses against the US Dollar appear to be in the build up to the Federal Reserve’s policy statement. There were also continued loses for the NZD against sterling.
The UK’s average earnings data caused sterling to strengthen against the vast majority of currencies, particularly Antipodean pairs such as the NZD and the Australian Dollar (AUD).
The Japanese Yen also saw a similar fate. Despite the release of positive data, relating to their trade deficit (their first trade surplus in 33 months) the Yen lost ground against both sterling and the US Dollar.
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