FX News

NZD/USD Transfer

The New Zealand Dollar (NZD) recovered off 0.5900 Thursday against the US Dollar (USD) regaining losses to 0.5970. New Zealand business confidence improved in September to 1.5% from August’s -3.7% amid a mixed set of sub-indices. Employment intentions were a positive mover while construction was well down. Overall pressure remains to the downside for the kiwi, a retest of 0.6000 would certainly change our view of big picture momentum. The RBNZ still has a hike to go before April – this is now starting to be priced into the cross. Next week’s RBNZ cash rate announcement and policy may highlight when a hike may eventuate but for now those buying USD – fill ya boots.

The current interbank midrate is: NZDUSD 0.5963

The interbank range this week has been: NZDUSD 0.5899- 0.5974




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