NZD Currency Update: Kiwi makes an overnight gain

Joe Mayhew Senior Currency Broker - NNZD Currency Update: Kiwi makes an overnight gainWritten by:
Joe Mayhew
Senior Currency Broker
T: 01442 892 069

GBP/NZD exchange rate graph

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The Kiwi managed to make gains on a number of its counterparts overnight after the RBNZ released its Inflation Expectations. NZD pairs had been falling against a number of counterparts in recent days as market participants weighed a potential rate cut from the Central Bank; however, the published inflation numbers were better than anticipated. The last reading of 1.6% was beaten, coming in at 1.7% which allowed the Kiwi to gain on the pound from 1.84 to a low of 1.8275. This evening from New Zealand we have: the GDT Price Index, the Participation Rate, the Labour Cost Index and, early tomorrow morning, the ANZ Commodity Price Index.
To keep up to date with the New Zealand dollar, visit our NZD blog section on our website here.

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Joe Mayhew
Senior Currency Broker
T: 01442 892 060