The dovish message by Mario Draghi has hurt the euro, and was probably designed to do so. A secondary effect is now seen: commodity currencies are rising.
CAD, AUD and NZD are strengthening against the US dollar and even more against the euro. Here’s why they are strengthening and defying their own problems. The 3 charts below provide some visualization for USD/CAD, AUD/USD and NZD/USD:
Read the rest of the article CAD, AUD and NZD rallying on the ECB’s message