FX News

NZD/USD Transfer

Risk on flow this week overall has supported the New Zealand Dollar (NZD) rising across the board, to 0.6220 against the US Dollar (USD). US CPI came in soft at 3.3% compared to 3.4% predicted before the Federal Reserve meeting. The Fed kept held their benchmark interest rate at 5.50% as widely expected with the central bank now only pencilling in 1 cut this year. 15 of 19 Fed officials expect the Fed to cut just once this year compared to 6 cuts forecast in early May. Friday action has seen prices fall back to around 0.6165 stalling out on hawkish fed speak over the past day. Next week’s NZ GDP for the first quarter of 2024 should reflect a negative number as the NZ economy struggles in a recession.

The current interbank midrate is: NZDUSD 0.6147

The interbank range this week has been: NZDUSD 0.6098- 0.6221



Previous ArticleNext Article