Daily Currency Update by Tom Ives

1. RBNZ leaves rates on hold but maintains the tightening bias, NZD is firmer on the news despite Wheeler citing the rate as “unjustifiable and unsustainable”. 2. Australia creates 42.7k jobs, but the headline flatters to deceive as 40.8k of these were part time jobs. The Aussie is firmer despite the unemployment rate creeping slightly higher to 6.3% due to downwards revisions to the previous month's figure. 3. Today the Swiss National Bank rate announcement and US Retail Sales will be the highlights.