NZ Dollar Rallies Ahead of Policy Decisions

Positive consumer confidence data allowed the New Zealand dollar to rally ahead of policy decisions from the Federal Reserve and the Reserve Bank of New Zealand.
The ANZ Business Confidence index climbed from 13.4 in September to 26.5 in October. While the figure was well below this year’s highs, it was still a very good reading, suggesting that the economy experiences robust growth. The Fed will announce its policy decision later today, followed by an announcement from the RBNZ. It is expected that New Zealand’s central bank will keep its key interest rate unchanged at 3.5 percent.
NZD/USD advanced from 0.7921 to 0.7960, and NZD/JPY climbed from 85.65 to 86.00 as of 15:17 GMT today.

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