FX News

NZD/USD Transfer

The New Zealand Dollar (NZD) has posted a new low Thursday reaching 0.5800 against the preferred “safe haven” US Dollar (USD) as things start to get ugly. The Federal Reserve raised their cash rate 75 points to 3.25% yesterday sinking the kiwi further. To be fair the rot had well and truly set in by the announcement, investors perhaps realising a recovery of sorts is becoming less likely. Consumer sentiment in the US is not looking flash with numbers showing they are close to all-time lows. Meanwhile it was good to see a pick-up in equity markets overnight and small momentary reversal take place with prices back at 0.5880. Downward pressures remain in the cross with massive support at 0.5650 rapidly coming into view.

The current interbank midrate is: NZDUSD 0.5847
The interbank range this week has been: NZDUSD 0.5801- 0.5999

Previous ArticleNext Article