A magnitude 5.5 earthquake has been reported to hit Christchurch at around 13:00 NZST (01:00 GMT), almost 4 months after the earlier devastating magnitude 6.3 that hit New Zealand’s second most populous city. The New Zealand dollar traded sharply lower against its American counterpart, as concerns that major industries will be once again impacted drove investors towards safety.
NZDUSD 5 minute chart; vertical line indicates reported time of earthquake. Chart generated with FXCM Strategy Trader.
The Australian dollar was also moderately lower as the earthquake caused worries that demand from its largest trading partner would be disrupted. Markets in both Wellington and Sydney are closed today for the Queen’s Birthday.
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