The NZD/AUD cross rate remains fairly stable around 0.9200. Volatility in the NZD has been reflected on the opposite side of the Tasman, reducing any break-out fluctuations. All eyes will be focused on this coming weeks RBA, interest rate decision. They are expected to hold rates unchanged, but the associated commentary will be closely watched. Warnings of hotter inflation, will spook markets, especially considering the discount with which the environment Australian interest rates are operating in.
Current Level: .9202
Last week’s range:.9150 – .9210