Wednesday, March 25, 2009
at
3:31 PM
Posted by
Gw
NZD/USD stronger early, but off overnight highs tapped when USD fell sharply on comments by U.S. Treasury Secretary Timothy Geithner who said is open to considering a new global reserve currency. Kiwi lost ground after USD pared losses when Geithner clarified remarks, says USD still world's dominant reserve currency, likely to remain so for a long period of time. Pair touched 0.5722 overnight, last 0.5634 vs 0.5603 late yesterday. Locally, market will be keen to see 4Q current account deficit late this morning.
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