22 Jul 2015
NZD/USD drops further, awaits RBNZ
FXStreet (Córdoba) - A stronger US dollar across the board weakened NZD/USD. The pair dropped below 0.6600 and fell to 0.6558, hitting a 2-day low.
On Asian hours the pair rose to 0.6645 but weakened afterwards. Current it is attempting to move off session low and trades at 0.6580 as greenback retreats modestly in the market.
Between USD and RBNZ
In a few hours, the Reserve Bank of New Zealand will announce its decision on rates. A rate cut is expected. Most analysts estimate that the bank will lower the OCR by 25 basis points, but others expected a bigger cut.
Volatility around kiwi’s crosses is likely to rise in as we approached 21:00 GMT, the time when the RBNZ will announce its decision.
On Asian hours the pair rose to 0.6645 but weakened afterwards. Current it is attempting to move off session low and trades at 0.6580 as greenback retreats modestly in the market.
Between USD and RBNZ
In a few hours, the Reserve Bank of New Zealand will announce its decision on rates. A rate cut is expected. Most analysts estimate that the bank will lower the OCR by 25 basis points, but others expected a bigger cut.
Volatility around kiwi’s crosses is likely to rise in as we approached 21:00 GMT, the time when the RBNZ will announce its decision.