Both the NZD and the yuan are big movers today
NZD first - lower after the Reserve Bank of New Zealand MPS and subsequent comments. Earlier posts will give you a rundown:
- NZD slowly down further to fresh session low ... RBNZ post-decision comments weigh
- RBNZ's McDermott: If NZD TWI moves up, expect different language from the Bank
- RBNZ's McDermott: Expect NZD to ease as Federal Reserve raises rates
- Responses to the RBNZ decision coming in
- RBNZ Spencer says not concerned about the NZD, comfortable where it is
- RBNZ Spencer not actively monitoring cryptocurrency markets
- RBNZ's Spencer says no reason to change forecasts after equity volatility
And, Bloomberg have a rundown here if you'd prefer: RBNZ in 'Central Bank Nirvana' Even as Inflation Undershoots
As for the RMB (or the yuan, if you'd prefer) .... its lost some ground today ... big time following the trade data and news of China revives QDLP outbound investment scheme (link to Reuters for more) :
Offshore yuan:
Check out a slightly longer term pic of the price action (I believe the kids call them 'charts' ;-) ) and you can see where it was likely stop loss buying was clustered
The trade data the catalyst for the most recent surge:
