September 7, 2016. NZD is the strongest. GBP is the weakest.
As the NA traders enter for the day, the NZD is the strongest currency, while the GBP is the weakest. With US data coming in weaker yesterday, the carry traders pushed the pair to new year highs/highs since May 2015. That grind higher continued today against all the major currency pairs.
The GBP was hurt by manufacturing production which came in much weaker than expected at -0.9% (est. -0.3%). The recent buyers of late, turned to sellers with the GBPUSD and EURGBP leading the charge.
The greenback is mixed in trading today with the EURUSD, USDCHF, USDCAD, and AUDUSD little changed. The action is in the GBPUSD and the NZDUSD with the USDJPY weak too. Canada interest rate decision at 10 AM/1400 GMT along with the Ivey PMI data. Before that the UK Inflation Report hearings (9:15 AM ET/1315 GMT).
Looking at the ranges and changes, a mixed bag for trading with the EURUSD only in a 36 pip trading range after yesterday's surge higher. Pairs with GBP, JPY, NZD names are the focus.
