Flash: NZD/USD at the crossroads – BNZ
FXstreet.com (New York) – The NZD was the weakest performing G10 currency last week – after opening the week flirting with the upper end of the 0.7690-0.8150 range, the NZD/USD finished the week some three cents lower around 0.7800, notes Mike Jones, an analyst at BNZ.
“A sharp and unexpected depreciation in emerging market currencies was the most eye-catching development in markets last week. The NZD’s role as a liquid regional proxy for Asia saw the NZD/USD dragged lower on the coat tails of the INR, IDR, THB, and PHP.”
“For this week, direction for the NZD will continue to come …read more