Action in the commodity currencies – Westpac

By FXStreet Analysts at Westpac noted the action in the commodity currencies overnight.

Key Quotes:

“AUD/USD was volatile, initially falling to 0.7551 in response to the Brussels headlines, but a few hours later squeezing as high as 0.7643, finally steadying slightly higher overall at 0.7615.

NZD/USD similarly fell to 0.6721 before trading mostly the mid-0.67s. AUD/NZD rose throughout London/NY, from 1.1215 to 1.1280/1.1300.

USD/CAD spiked in the flurry to buy USD in London but then tracked lower, with Canada’s budget seen as pro-growth.”
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Source:: FX Street