Dollar-bloc currencies underperformed this week - BBH

Research Team at BBH, notes that the after the recent heaviness of the dollar-bloc currencies, they have underperformed this week. 

Key Quotes

“Expectations that both New Zealand and Australia may cut interest rates next month weighed on their respective currencies.  The Kiwi is the weakest of the majors over the last five sessions, falling 1.7%.  The Aussie is off 1.3%.  It is holding a little above a two-month trendline, found near $0.7450.

The Canadian dollar has been dragged down in sympathy, as no Bank of Canada rate cut is anticipated.  However, weaker commodity prices, including oil at two-month lows, have not done the Loonie any favors.  It is the weakest of the dollar-bloc today, off about 0.3% to take its losses for the week to about 1.2%, matching the yen's weakness.”