Action in the antipodeans overnight - Westpac

Analysts at Westpac noted the conditions in the antipodeans overnight.

Key Quotes:

"AUD/USD fell from 0.7370 in the London morning to 0.7308, a low since 3 March. The steep losses in Chinese iron ore futures trading Monday were backed by the hefty fall in spot iron ore, -5.7% to $54.99/tonne.

Gold also shed -1.9% over the day, Brent crude oil -3.8%, copper -2.2% in a broad commodity rout that clearly hurt the Aussie. NZD/USD fell from 0.6840 to 0.6760, a low since early March. AUD/NZD bounced sharply from 1.0760 to 1.0810/20 in London."