The cross rate has reached highs of 0.9450, in the last week or so, leading into the latest RBNZ Rate Decision. The NZ Central Bank’s ‘dovish’ stance has allowed the cross rate to drift off recent highs, to trade around 0.9350. The Australian CPI inflation number, released this week, was in line with expectations. The cross rate was softer due to the RBNZ dovish sentiment, but any ‘hawkish’ stance by the RBA Governor, could see the cross-rate re-test highs.
The current interbank midrate is: NZDAUD .9360 AUDNZD 1.0684
The interbank range this week has been: NZDAUD .9358 – 9457 AUDNZD 1.0574 – 1.0682