The kiwi continues its gains against the Australian dollar
Meanwhile, elsewhere:
- yields on US 10years are continuing to drop, lowest since mid-September today
- 2yr/10yr spread gets tighter
- CNY marked hugely lower by the PBOC today (biggest drop in 16-odd months)
Moves on USTs are indicative of views the Fed is getting close to the end of its hiking cycle. Dunno about that. I can appreciate the many good points made by those arguing so, but not convinced yet.