The Australian and New Zealand dollars are being crushed by sellers
There is no fresh news flow apart from what has been posted already (although I sould expand on my copper limit down earlier, many commodities on China's exchanges are limit down today)
- AUD is at its lowest since 2002
- AUD is down from around 0.5800 at its earlier highs today to lows circa 0.5510
- NZD had been weaker earlier, but it too is a lot lower, lows around 0.5475
The South Korean won is lower also, authorities there are out now issuing statement saying moves are excessive for the won given fundamentals.
So far there have been no comments from the RBA or RBNZ on these moves in their currencies. Both Banks will likely have some positive view of the lower currency, but they may well couch any jawboning (if any) in terms of the pace of the move.
aud:
