NZD/USD finally broke above the all-important 0.85 resistance level on Tuesday, and looks set to continue the bullish stance. The announcement of the Fed extending their meeting in September to two days has people speculating that the Fed will continue to ease. This should be bullish for commodities, and thus - bullish for the commodity currencies like the Kiwi.
The NZD/CHF is rapidly pushing at the 0.70 level, and looks like it wants to have a go at it. However, with the massive run up in this market, we don't want to buy this pair. However, we bring it up as it shows just how the "risk on / risk off" trade is going. As long as the NZD/CHF rises - traders will continue to buy risk.
Create a FREE account