22 Jan 2015
NZD/USD recovers modestly from 30 month lows
FXStreet (Córdoba) - The kiwi recovered ground against the US dollar and erased daily losses but is still trading below the key 0.7600 level. Earlier the NZD/USD pair bottomed at 0.7511, reaching the lowest price since June 2012.
From the lows the pair rebounded and rose to 0.7569, apraching daily highs that lie at 0.7575. Currently trades at 0.7565, around the level it closed yesterday.
After the surprise rate cut by the Bank of Canada, speculations about the Reserve Bank of New Zealand doing the same jumped, weakening the kiwi across the board. Next week the RBNZ will meet and according to analysts from Wespac the statement could reflect a dovish shift, from a tightening bias to a neutral one.
From the lows the pair rebounded and rose to 0.7569, apraching daily highs that lie at 0.7575. Currently trades at 0.7565, around the level it closed yesterday.
After the surprise rate cut by the Bank of Canada, speculations about the Reserve Bank of New Zealand doing the same jumped, weakening the kiwi across the board. Next week the RBNZ will meet and according to analysts from Wespac the statement could reflect a dovish shift, from a tightening bias to a neutral one.