The Australian dollar is making fresh lows for 2021:
The RBA announced a cut in the QE bind buying programming but as Governor Lowe conveyed are sticking to their expectation of no rate hike unto 2024. The global reflation trade is losing some momentum, and market pricing for it (at least as reflected in AUD) is unwinding some of its optimism.
Meanwhile, NZD/USD is lower on the session also. The RBNZ is ahead of the RBA on policy normalisation but that's not much help to the NZD at present:
And, AUD/NZD this year:
