NZD/USD: lapping up softer dollar - ANZ

FXStreet (Guatemala) - Analysts at ANZ explained that the USD sold off yesterday as markets digested the potential for a weak manufacturing print.

Key Quotes:

"This eventuated with the ISM printing at levels not seen since 2009. However, the slowdown in the manufacturing sector is likely to be offset with strength from the service sector and employment.

Fed Chair Yellen speaks tonight and is expected to hammer home the gradual normalisation message. The NZ Q3 terms of trade fall of 3.7% offsets the 2.7% combined lift in Q1 and Q2, and we expect further falls in Q4."