0.585
Today
+0.07%
5 Days
-1.44%
1 Month
-0.59%
6 Months
-1.39%
Year to Date
+1.73%
1 Year
-0.17%
Opening Price
0.584Previous Closing Price
0.585The Reserve Bank of New Zealand (RBNZ) raised its policy rate on Wednesday and the currency fell almost 1.7% from top to bottom on the day it happened.
UOB’s Lee Sue Ann notes that the Reserve Bank of New Zealand (RBNZ) raised the Official Cash Rate (OCR) to 2.75% and kept a tightening bias, stressing the need to prevent fuel-driven inflation from becoming entrenched.
Brown Brothers Harriman’s (BBH) Elias Haddad reports the New Zealand Dollar (NZD) underperformed after the Reserve Bank of New Zealand (RBNZ) delivered a 25 bps hike to 2.75% but signaled reduced need for further tightening.
NZD/USD plunges 1.45% on Wednesday, trading around 0.5810 at the time of writing, as the New Zealand Dollar (NZD) comes under heavy selling pressure despite an interest-rate hike from the Reserve Bank of New Zealand (RBNZ).
MUFG’s Lee Hardman reports that the New Zealand Dollar fell sharply after the RBNZ delivered a second 25bps hike but signalled a cautious, gradual path for future tightening.
NZD/USD gains ground for the second consecutive day, trading around 0.5840 during the Asian hours on Wednesday.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
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Technical rebound towards 0.5862 before a new drop
above 0.5862, look for 0.5880 and 0.5891.
Technical rebound towards 0.5862 before a new drop
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