The New Zealand dollar was flat against the US dollar and the Japanese yen during quiet Wednesday’s trading. The currency got a bit of support from the comments of the nation’s central bank chief.
Graeme Wheeler, Governor of the Reserve Bank of New Zealand, who has cut interest rates recently, said today that additional monetary easing is likely. At the same, time he downplayed dovish expectations, saying that large rate cuts would be necessary only in case the economy falls into recession. For now, such an event looks unlikely.
Those comments perhaps allowed the New Zealand dollar to avoid losses its Australian peer has experienced.
NZD/USD traded close to its opening level of 0.6689 as of 9:49 GMT today. NZD/JPY was near the opening of 82.66.
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