After the poor dairy auction and the muted CPI (here and here) the NZD has looked heavy. The buying around 0.8680/90 has been filled (some has been pulled and will be tried at a lower rate) and its drifting lower in the NZ morning. Early word now is that those still waiting to sell on any bounce are not chasing it (yet) but are lowering their offers to below 0.8700 now.
I’ll have a more complete look at the orderboard soon.
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AUD, sliding away too.
Both of these moves being aided by the mood of risk aversion in the wake of the downing of the Malaysian Airline plane.
