NZD/USD falls to a session low of 0.6345
This comes as we see a bit of a softer tilt in the risk mood with European equities down by about 0.2% to 0.3% across the board while Treasury yields also hit a session low.
Of note, 10-year yields are now down by 1.4 bps to 1.828% after having been as high as 1.858% during Asia Pacific trading.
As such, NZD/USD is holding weaker on the session now with the dollar and yen sitting firmer among the major currencies for the time being.
For NZD/USD, buyers failed to firmly challenge the key hourly moving averages close to 0.6375-80 and price is retreating a bit more quickly as sellers stay in near-term control.
Further support is now seen closer to 0.6334-38 from overnight lows.
Considering the rather empty calendar and bare headlines today, I would classify this as markets being choppy amid the lack of catalysts and month-end flows, with the Fed decision tomorrow also being weighed up by investors.
Much like yesterday, it's pretty much markets still dipping their feet in the water before diving into the pool over the next few days.
