U.S. Dollar Rallies and Kiwi Falls on Libya, Earthquake News
The U.S. Dollar is rallying in the Asia session, led by gains against the New Zealand Dollar and the Euro. With regard to the former, a 6.3 magnitude earthquake in the city of Christchurch was the catalyst for underperformance in the Kiwi. Reports are surfacing that there have been fatalities and notable damage to buildings and streets.
Meanwhile, the U.S. Dollar’s gains versus the Euro and other rivals seems to be related to the events unfolding in Libya, including an increasing amount of violence and even indiscriminate bombing upon civilian targets by Muammar Gaddafi’s regime. Stocks indices in Asia are down across the board, with Japan’s Nikkei 225 benchmark falling almost 2%.
Speaking of Japan, the Yen has had an extremely volatile session as multiple crosscurrents impact the currency, including a change in the rating outlook for Japan’s Aa2-rated government bonds by Moody’s.
U.S. Dollar Index Intraday Chart:
NZD/USD Intraday Chart:
EUR/USD Intraday Chart:
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