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Forex Flash: ASX200 rally hints AUD softness may not last - RBS

The ongoing out-performance from the Australian stock market, in view of Greg Gibbs, currency analyst at RBS, "suggests that the recent relative softness in the AUD may not last" he notes.

In his daily view of the market, the analyst includes: "The broad-based gains in the stock market, especially in sectors like consumer discretionary stocks and industrials that might be damped down more by an expensive exchange rate suggest that the RBA should not be rushing to cut rates in coming months."

Forex: NZD/USD slips to session lows, holds above 0.84

NZD/USD has recently broken to the downside on no news yet to be reported as ForeLive noted moments ago, last trading at 0.8420, off fresh session and 3-day lows at 0.8402, down so far -0.34% for the week. Kiwi has been sold across the board, also against AUD, pushing AUD/NZD to fresh 2-day highs at 1.2280, following RBA minutes.
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Forex: AUD/NZD above 1.2250 on Kiwi weakness

AUD/NZD has recently spiked to the upside on Kiwi weakness hitting fresh 4-day highs at 1.2280, up from session lows at 1.2170, last at 1.2254, as wires reported “some NZ milk powder destroyed” in Beijing by Chinese authorities. “NZD has been best performing currency lately - so might be vulnerable for selloff,” said Forex analyst John Noonan in his twitter account referring to the news. Kiwi is now along CAD the worst performing currency among majors since last Thursday.
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