0.583
Today
-1.07%
5 Days
-2.45%
1 Month
-1.08%
6 Months
-2.68%
Year to Date
+1.23%
1 Year
-1.21%
Opening Price
0.589Previous Closing Price
0.589NZD/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 RBNZ raised rates by 25 basis points to 2.75%. • Forward guidance disappointed investors anticipating a more aggressive tightening path. • US dollar strength and dovish New Zealand projections drove NZDUSD lower.
The NZD/USD pair tumbles to near 0.5855 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) faces some selling pressure against the US Dollar (USD) after the Reserve Bank of New Zealand (RBNZ) interest rate decision.
• NZDUSD declined due to domestic softness and pre-RNZ decision positioning adjustments. • US Dollar strength was supported by elevated Treasury yields and safe-haven demand. • Technical selling below key support triggered stop-loss orders, extending the pair's decline.
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The downside prevails as long as 0.5847 is resistance, with 0.5802 and 0.5791 as targets
above 0.5847, look for 0.5865 and 0.5876.
The downside prevails as long as 0.5847 is resistance, with 0.5802 and 0.5791 as targets
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