As we highlighted in yesterdays’ report here the present “risk on” stage seen in the equity markets has also seen a strong US Dollar, with the US currency rallying across global major currencies (except the Japanese Yen).
This reflects strong US economic data, despite the continuing worries about a faltering global recovery.
We underlined this US$ strength in the last report by focusing on negative pressures for EURUSD.
But here we spotlight the weakness in AUDUSD and NZDUSD Forex rates, with the US currency strength reinforced by both the Reserve Bank of Australia (RBA) and Reserve Bank of New Zealand (RBNZ) shifting more dovish as their respective economies report worsening economic data, putting downside pressures on their respective currencies.
See the full article here: https://www.fxexplained.co.uk/forex-articles/current-market-analysis/audusd-and-nzdusd-vulnerable-to-further-losses/