The RBA’s new governor Michele Bullock gave her first statement Tuesday cunningly not suggesting a further rate hike was a dead cert at the upcoming November meeting. While the central bank kept rates at 4.10% the stage was set for a continuation of some Aussie form with further rises to inflation looking likely. The RBNZ also left their interest rate at 5.50% in a dovish read, the kiwi reversing wins from 0.9389 (1.0650) to 0.9330 (1.0720) post data. Into Friday the kiwi has collected more bids reaching 0.9370 (1.0670) the currency eying the long-term price at 0.9470 (1.0560) from mid-May 2023. We wouldn’t bet against it.
The current interbank midrate is: NZDAUD 0.9360 AUDNZD 1.0670
The interbank range this week has been: NZDAUD 0.9307- 0.9384 AUDNZD 1.0656- 1.0744