Daily Alert: Kiwi flies on USD’s demise

  • The most eye-catching development in financial markets overnight has been the broad-based decline in the US dollar.
  • Yesterday we learned the NZ terms of trade lifted a further 3.3% in Q2; as with interest rate differentials, the high terms of trade are of course a strong fundamental support for the NZ dollar.
  • Economic data have been thin on the ground overnight.

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