The New Zealand dollar was the top performer
The currency market is trying to sort out the cross-currents of hawkish central bankers and weak inflation data. Either the central bankers are right or they will have to shift to something more dovish.
What will settle the score is data over the next few months. I expect increasingly big moves on the economic numbers as markets continually reevaluate.
What's also notable about the past week is the divergence between NZD and AUD. I took a closer look at the AUD/NZD chart on Friday.
