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New Zealand Dollar Down on Fed Rate Hike Bets

Last week’s high: NZ$1.7911

Last week’s low: NZ$1.7476

GBP/NZD Edges Slightly Higher

After plummeting in the wake of the Bank of England’s (BoE) latest interest rate decision, the GBP/NZD exchange rate clawed back some of its losses thanks to the rising odds of the Federal Reserve increasing interest rates for a third time in 2017.

Friday’s favourable US jobs report kept hopes of a third rate adjustment alive, and dented risk appetite in the process. The New Zealand Dollar also came under a little pressure as the Reserve Bank of New Zealand’s (RBNZ) inflation expectations eased, indicating that the central bank is probably likely to keep current stimulus measures in place for the time being.

NZD Outlook: RBNZ Rate Decision Looming

The New Zealand Dollar could fall against the majors later in the week if the Reserve Bank of New Zealand (RBNZ) confirms in its upcoming policy meeting that it has no immediate plans to increase borrowing costs.

Key Events

7th August

08:30 UK Halifax House Price Index July

9th August

22:00 RBNZ Interest Rate Decision

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To keep up to date with the New Zealand Dollar, visit the NZD blog in our Currency News section.

Joe Mayhew

Senior Currency Broker
T: 01442 892 060

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