NZD/USD portrays a 20-pip rise on the Reserve Bank of New Zealand’s (RBNZ) monetary policy announcements on early Wednesday. In doing so, the Kiwi pai
RBNZ holds benchmark rates intact at 5.50% as expected.
portrays a 20-pip rise on the Reserve Bank of New Zealand’s monetary policy announcements early Wednesday. In doing so, the Kiwi pair prods the six-day downtrend while bouncing off the yearly low. Apart from the RBNZ moves, the pessimism surrounding China and the upbeat US Treasury bond yields also become important catalysts for the NZD/USD traders as they exert downside pressure on the quote of late.
It should be noted that the hawkish statements from Minneapolis Federal Reserve President Neel Kashkari joined the upbeatgrowth for July, 0.7% MoM versus 0.4% expected, also add strength to the bearish bias about the NZD/USD pair, via firmer US Dollar.
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