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12 Mar 2015
NZD/USD hits fresh highs above 0.7400
FXStreet (Córdoba) - NZD/USD printed a fresh 6-day high at 0.7408, the strongest level since last Friday, boosted by a weak US dollar and the decision of the Reserve Bank of New Zealand to leave rates unchanged and after it repeated last month message.
“While the unchanged cash rate and neutral tone was widely expected, the fx market was short NZD looking for a least a dovish tone. We expect the NZD to outperform in the near term as other time zones digest the “on hold” news”, explained analysts from TD Securities.
The kiwi is among the best performers on Thursday. From yesterday’s lows the NZD/USD has risen 225 pips. Today the pair is having the biggest gain since January and currently is hovering near the highs, around 0.7405.
“While the unchanged cash rate and neutral tone was widely expected, the fx market was short NZD looking for a least a dovish tone. We expect the NZD to outperform in the near term as other time zones digest the “on hold” news”, explained analysts from TD Securities.
The kiwi is among the best performers on Thursday. From yesterday’s lows the NZD/USD has risen 225 pips. Today the pair is having the biggest gain since January and currently is hovering near the highs, around 0.7405.