FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Quotes from RBC Capital Markets:
- AUD/USD is trading sub-0.76. RBA Assistant Governor Kent delivered a speech on the economy overnight, the bulk of which would be familiar to anyone with a vague interest in the Australian economy. Kent described the exchange rate as high relative to the state of the economy, rather than relative to fundamentals. We expect this will be the new mantra, which internal documents were suggesting might be the case as long ago as March of last year.
- NZD/USD continues to trade heavily, unhelped by headlines that some infant formula exporters have had orders cancelled following recent threats of contamination. Spot is at one-month lows of 0.7235-40 ahead of tomorrow's RBNZ meeting and MPS.
