Archived IMT (2009.01.13)

NZDJPY proved a major loser after S&Ps downgrade of NZs foreign currency outlook to negative, which added to the gloom triggered by multi-decade lows in NZs business confidence. NZDJPY shed 3 yen to 49.32, which is 2 yen away from last months 8 year lows. A breach below 47 is likely to call up the 45 yen low. Rising AUDNZD highlights NZD selloff from 1.18 to 1.209 in the past 10 hours, with 1.2370 ... You must be a subscriber of Intraday Market Thoughts to read rest of content.