The EUR has a similar experience to the NZD, following rate cuts from the ECB and the RBNZ. Initial downside, has been replaced by rebuilding in the EUR, as economic confidence returns, with the promise of growth from lower interest rates. The interest rate differentials will probably follow each other, remaining static, which is probably where the cross rate will be.
The current interbank midrate is: NZDEUR .5650 EURNZD 1.7699
The interbank range this week has been: NZDEUR .5500 – .5650 EURNZD 1.7699 – 1.8181