The NZD/AUD cross rate has been moving steadily lower, approaching the key 0.9000 mark. The RBNZ has embarked on a rate cutting program and this is in direct contrast to the RBA Governor, who holds rates higher. The RBA Governor has cited stubborn inflationary pressures remaining in the Australian economy, none less than in fiscal spending. The pressure remains to the downside.
The current interbank midrate is: NZDAUD .9050 AUDNZD 1.1040
The interbank range this week has been: NZDAUD .9000 – .9070 AUDNZD 1.0950 – 1.1050