Wow wow: past few days AUDUSD 0.7020 to 0.7227, NZDUSD 0.60 to 0.617 and 0.612, AUDNZD 1.16 to 1.182:
Japanese bought the Currencies back at their recent lows.
Being the yield champions of last year, the AUD and NZD were supposed to remain well supported. However, the soft data so far out of AU signal that the interest rate rises are not going to happen. This triggered significant drop for AUD (18 month low) and NZD, only up until the day the Japanese Financial Year began. Japanese investors raised the currencies from their lows by positioning themselves newly for high yield (JP pays 0% interest, AU and NZ pay approx. 5.5 & 7.5). Some weaker fundamental data out of NZ however, caused more upward move for the AUD, hence the move in AUDNZD.