NZ Dollar Appreciates After RBNZ Rate Hike, Signals Further Aggressive Moves
25 Mai 2022 - 06:10AM
RTTF2
The New Zealand dollar spiked higher against its major trading
partners in the Asian session on Wednesday, after the Reserve Bank
of New Zealand lifted its official cash rate by 50 basis points and
signaled further hikes to ensure that consumer inflation returns to
the target range.
The Monetary Policy Committee decided to raise the country's OCR
to 2 percent from 1.5 percent, as expected.
It marked the fifth increase in the OCR from a record low of
0.25 percent.
The RBNZ said that a larger and earlier increase in the OCR
reduced the risk of persistent inflation and provided more policy
flexibility going forward in light of the highly uncertain global
economic environment.
The Committee agreed to continue to lift the OCR at pace to a
level that will confidently bring consumer price inflation to
within the target range.
The RBNZ Monetary Policy Committee agreed that higher rates are
necessary to bring consumer inflation within the target range over
the next two years.
The kiwi climbed to nearly a 3-week high of 0.6514 against the
greenback, rising 1.5 percent from a 2-day low of 0.6418 seen at
9:45 pm ET. The pair had finished Tuesday's deals at 0.6462. The
kiwi may face resistance around the 0.68 region, if it gains
again.
The kiwi gained 1 percent against the yen, touching a 2-day high
of 82.77. The pair was valued at 81.91 when it ended trading on
Tuesday. Further rally in the currency may challenge resistance
around the 84.00 region.
The kiwi added 1 percent to hit a 2-day high of 1.6422 against
the euro. The euro-kiwi pair was quoted at 1.6603 at Tuesday's
close. Immediate resistance for the kiwi is likely seen around the
1.62 level.
The kiwi has risen to its highest level since May 2 against the
aussie, at 1.0923. This followed a 5-day low of 1.1027 it recorded
at 9:45 pm ET. The kiwi had finished yesterday's trading session at
1.0991 against the aussie. Should the currency rallies again, 1.075
is possibly seen as its next resistance level.
Looking ahead, Swiss economic sentiment index for May will be
published in the European session.
U.S. durable goods orders for April will be featured in the New
York session.
The Fed minutes from the May 3-4 meeting is set for release at
2:00 pm ET.
Euro vs NZD (FX:EURNZD)
Graphique Historique de la Devise
De Fév 2024 à Mar 2024
Euro vs NZD (FX:EURNZD)
Graphique Historique de la Devise
De Mar 2023 à Mar 2024