Elsewhere yesterday we saw significant movements for the Canadian dollar. Bank of Canada Governor Stephen Poloz said he couldn’t rule out an interest rate cut if the economy worsens, as it would be required to help the economy to grow. The currency fell across the board, moving down to near its lowest point in four and a half years, thanks to speculation surrounding the possibility of interest rate cuts. The New Zealand dollar, on the other hand, advanced against most of its major partners, with some thinking that it will reach the highest levels since 2011. The Australian dollar, on the other hand, reversed its recent gains, falling from its three-month high against the US dollar ahead of the US Federal Reserve’s releases.
Overnight we had the growth figure from New Zealand; this morning we look forward to a further speech from BoJ Governor Kuroda. Otherwise, worldwide events are thin on the ground, with the US dominating proceedings.
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