The Australian dollar was the top performer this week while the New Zealand dollar lagged. The pair climbed 1.65%, or 178 pips from last Friday’s close. The pair stumbled in the first hours of trading but surged afterwards.
The Australian and New Zealand dollars are generally highly correlated but this was the second week of significant Aussie out-performance.
AUD/NZD is closing in on the highest levels of the year. I suspect we will see some retracement before any move higher.
AUDNZD daily
