New Zealand dollar rallies 50 pips from the lows and nears the highs of the week | Forexlive
The market is filled with crosscurrents today.
The US dollar was strong into European trading but it’s abruptly reversed in the past two hours as Treasury yields cool. The New Zealand dollar is a big beneficiary as it’s rebounded to 0.6219 from a low of 0.6173, in a more-or-less straight line.
It’s now threatening this week’s high of 0.6224.
While the FX market is showing more-positive signs, US equities are still struggling and the S&P 500 is down 20 points.