NZ Dollar Traders Near Opening Level

The New Zealand dollar had fallen initially during the Tuesday’s trading session but has bounced later and is trading close to the opening level as of now. This week should be rather important for the currency due to the upcoming central bank’s policy meeting.
New Zealand’s manufacturing sales fell 2.8 percent in the first quarter of this year from the previous three months. While the report is not a particularly important one, it is still a bad sign ahead of the Thursday’s policy meeting of the Reserve Bank of New Zealand. There are even speculations about a possible interest rate cut, though the majority of economists still expect no change to the monetary policy.
NZD/USD traded at about 0.7140 as of 18:39 GMT today after falling from 0.7132 to 0.7087. NZD/JPY was near 88.81 following the drop from 88.74 to 88.28.

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