FX News

NZD/EUR Conversion:

The Euro (EUR) extended its run higher against the New Zealand Dollar (NZD) Monday to 1.6630 (0.6010) as markets remain spooked by uncertainty in the Ukraine war and rising inflation. The ECB left its benchmark rate unchanged as predicted, sticking to its earlier call to end QE in the third quarter of this year. They won’t start raising their cash rate until after their stimulus ends. This strategy is distancing them from other central banks who have all started to tighten policy. Lagarde said they will maintain optionality, gradualism and flexibility with setting future policy. The bull run in the Euro may continue through to the close of the week with a combination of factors including risk averse markets giving the kiwi a downside bias.

NZD/EUR pair this week:
The current interbank midrate is: NZDEUR 0.6008 EURNZD 1.6644
The interbank range this week has been: NZDEUR 0.6005- 0.6098 EURNZD 1.6397- 1.6651

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