NZD/USD dropped sharply following the European session close to wipe out gains from a steady recovery that had taken place shortly after the weekly open. The pair had rallied towards Friday’s daily opening price but reversed from the level, boosted by a rally in the greenback. The US dollar index (DXY) traded in a similar fashion as the index reversed higher after the European close. DXY touched a low of 100.69 prior to turning higher, falling a few points shy of testing Friday’s low of 100.66. The index was last seen at its opening price of 101.12, erasing three quarters of the early day decline.Comments from Fed ... (full story)