New Zealand Dollar Struggles to Keep Gains

The New Zealand dollar is struggling to keep its earlier gains against the US dollar and the Japanese yen during the current trading session. While the currency rallied initially today, it is moving down as of now, trading dangerously close to the opening level.
Traders wait for the Financial Stability Report from the Reserve Bank of New Zealand that will be released at the beginning of the Wednesday’s trading session. The report will be followed by a press-conference with central bank’s Governor Graeme Wheeler. Market participants hope that the report and the press-conference will shed light on plans and future moves of New Zealand policy makers.
NZD/USD rose from 0.7332 to 0.7353 as of 14:32 GMT today but retreated from the daily maximum of 0.7401. NZD/JPY traded at 88.23, rising from the opening rate of 88.04 but falling from the session high of 88.71.

If you have any questions, comments or opinions regarding the New Zealand Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *

fifty seven − fifty two =