The Australian dollar had dropped, as had other currencies, but the release of the data for Q2 took a few more points out of it:

The drop was larger than expected, but expectations were expressed with low levels of certainty, it was always going to be a tough call getting estimates correct for this data point.

A 7% drop in GDP is very bad news indeed - so many people have lost their jobs. Not just in Australia of course.

AUD:

The Australian dollar had dropped, as had other currencies, but the release of the data for Q2 took a few more points out of it:

Meanwhile, NZD has held on near its session high (its been a small range) with final comments from RBVNZ Gov Orr saying he was not concerned about the level of the NZD.