FXstreet.com (Sydney) - The AUD reversed losses to the NZD and has recovered above 1.2500. The pair opened at 1.2436 before setting an intraday high of 1.2533. The Aussie is up 0.68% for the day.
In today's local session, the Kiwi fell following negative housing news coming out of the US. New housing starts grew by only 0.8% which is at its slowest pace in six months. The mood turned negative for technology stocks which dragged the Dow Jones. The Kiwi suffered as it is regarded as a risky or high-yielding currency and investors lost their appetite for risk.