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NZDJPY divergence post-CPI
Watching $NZDJPY today, currently at 93.21134, seeing some interesting divergence. NZD CPI came in softer than expected last night, yet the cross isn't collapsing. We dipped to 93.09 but found support. This suggests either a weak read was already priced in, or yen weakness is still the dominant force despite the dip. My watchlist is still leaning towards continued yen weakness on any further dovish BoJ hints.
1 comments · 1 points
I'm seeing similar price action. The lack of a strong move down after the soft CPI definitely points to underlying JPY weakness overriding the NZD news.