The RBNZ left rates unchanged, as expected by markets, this week gone by. The previous CPI inflation reading from NZ, was softer than expected, and this has led to a more ‘dovish’ approach to monetary policy. The NZD tumbled against all currencies, with the prospect of further weakness, as the Fed continues the ‘higher for longer’ mantra.
The current interbank midrate is: NZDUSD .6092
The interbank range this week has been: NZDUSD .6072 – .6194