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Following the Reserve Bank of New Zealand (RBNZ) decision, the New Zealand Dollar fell while the Australian Dollar rose by roughly 0.5% to a one-year high against the Kiwi. NZD/USD dropped after the RBNZ statement hinted at a possible rate cut. Additionally, the AUD/NZD pair climbed to its highest level since mid-2023 after the RBNZ decision. The RBNZ's unchanged rates with a less hawkish tone impacted the currency markets, with the NZD underperforming post-RBNZ.
Forexlive Americas FX news wrap: CPI cools, Japan intervenes https://t.co/eoZP9FUmN2
ForexLive European FX news wrap: Dollar tepid ahead of US CPI report https://t.co/K0W5WA5gmo
$USD is mostly softer ahead of the CPI report. The challenge is that the intraday momentum indicators are stretched, the mkt is pricing in 2 Fed cuts already--a third is difficult to envision--and the US 2-yr premium vs Germany is near important support. https://t.co/X8riTWabHB https://t.co/sUWGsMBQwQ
