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AUD/NZD taking advantage all the way

FXStreet (Guatemala) - AUD/NZD is trading at 1.1173 with a NZD that has bit hot on both sides of the globe.

Despite the drop in the Aussie, the NZD fell even harder, thanks to not just a stringer greenback and yields rising but another drop in dairy prices at the semi-monthly auction (whole milk powder falling -4.3% and skim milk powder -9.5%) as noted by analysts at Westpac Banking Corporation ABN. “The auction was worth about 35-40 pips off the kiwi, to its 0.8292 low, before it crept back to 0.8320. AUD/NZD spiked to 1.1180 on the NZ dairy price fall but then pulled back to 1.1160”.

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