EUR strength fades and NZD selling slows in quiet trade
EUR strength mainly flows
The early euro strength was reported as position squaring and flows. This appears to be the case as the euro strength was at odds with the negative covid news and slowing German sentiment data out from earlier in the session.
The NZD selling has slowed now and the return of NZD strength should be on the cards with the RBNZ's positive adjustment to forward guidance during the week.