Just a few hours ago, Reserve Bank of New Zealand (RBNZ) cut interest rate by 20 basis points in an attempt to weaken New Zealand Dollar (NZD) and NZD did the just opposite. NZD shot up and strengthened 1%. New Zealand’s central bank chief faced the galling sight Thursday of the currency surging 1 percent… Continue reading Reserve Bank Of New Zealand Gets A Big Shock From Currency Market
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NZD/USD Falls As Reserve Bank Governor Signals Possible Intervention
NZD/USD fell around 200 pips as the Reserve Bank Governor signaled possible intervention. “Unjustified and unsustainable are important considerations in assessing whether exchange-rate intervention is feasible,” Wheeler said in an unscheduled statement. “Another consideration is whether conditions in the foreign exchange markets are conducive to intervention having an impact on the exchange rate.” RBNZ Governor… Continue reading NZD/USD Falls As Reserve Bank Governor Signals Possible Intervention