FX News

NZD/AUD Conversion:

The path of both the RBA and RBNZ monetary policy widened this week when both central banks hiked rates. The RBA less than economists were predicting- only 25 points instead of the 50 points expected. This signals their intention they are nearly “done” with their hiking cycle, markets now pricing in just one more rise of 25 points to 2.85%. This is in stark contrast to the RBNZ who have a way to go before they reach the mid 4% zone hiking 50 points to 3.50% Wednesday. RBNZ’s Orr says it remains appropriate to continue to tighten for the foreseeable future in order to bring down inflation. The NZDAUD pushed up over the week to 0.8900 (1.1240) into Friday before the AUD recovered losses to 0.8820 (1.1340)

The current interbank midrate is: NZDAUD 0.8822 AUDNZD 1.1324
The interbank range this week has been: NZDAUD 0.8740- 0.8898 AUDNZD 1.1238- 1.1441

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