Canadian, Australian and New Zealand Dollars All Rally as High Yielders Recovery

The Canadian, Australian and New Zealand dollars continued to move in lockstep this morning. Yesterday, all three currencies weakened against the US dollar and today, they all rebounded relatively strongly. There was no New Zealand or Canadian data released, but Australia reported stronger than expected leading indicators and higher skilled vacancies.

The Reserve Bank of Australia also continued to inject liquidity into their financial system, showing their commitment to ensuring stability. The sustainability of the stock market rally will determine whether these high yielding currencies will continue to recover.