The NZD/USD is struggling after the RBNZ opted to push out its interest rate forecast further into the future. The Kiwi is trading below 0.6700 for the first time this year.
The British pound continues to struggle in the face of Brexit fears, with the GBP/USD trading at its lowest levels since August last year. The GBP/JPY is making small gains this morning, but the damage was done yesterday with significant losses, bringing the pair to well below 143.00. The EUR/GBP spiked to its highest levels since October as the euro maintained its relative strength.
The dollar index is once again on the back foot, helping dollar pairs to generally lift higher. The AUD/USD is pushing higher despite its neighbour the Kiwi selling off. The Canadian dollar is also making gains despite yesterday’s oil price reversal.
The EUR/USD is unchanged this morning though, with the EUR/JPY making small gains compared to the GBP/JPY’s losses.
Today, we have US PPI and unemployment claims, released alongside Canadian NHPI at 13.30.
The GBP/USD continues to struggle despite dollar weakness, largely driven by Brexit fears.