FX News

FX Update: NZD Risk Off

Market Overview

Some reversal of Friday’s price action, with US Treasury yields lower and USD lower
NZ rates follow offshore move higher but then fall after RBNZ inflation expectations figures show a drop
Yellen says the US economy remains resilient despite headwinds
The US Government just passed yet another spending bill, up to USD$750 Billion, which will be funded by further debt and the Fed, called the “Inflation Reduction Act”
NZD and AUD outperform, temporarily breaking above 0.63 and 0.70 overnight
RBNZ 2-yr inflation expected. (%), Q3: 3.07 vs. 3.29 prev.

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