020 7898 0500Elsewhere yesterday we saw Australian and New Zealand dollars continue to struggle. A recent slump in global equity markets have curbed demand for the high-risk, commodity-backed currencies, as traders look to buy into safer assets. The New Zealand dollar showed the biggest slide yesterday, losing out against all of its 16 major trading partners following the statement from the Fronterra Group (New Zealand’s biggest company and the largest dairy export in the world) warning earnings could fall sharply for the second half of the year. We saw the Japanese yen continue to build upon the momentum it has brought into this week, logging further gains yesterday as markets bought into the safe-haven currency. A quiet day on the data front today, so markets will be beholden to external factors. Get in touch for a live rate.
