NZD/USD drops to near 0.6100 as RBNZ opts to keep OCR unchanged

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NZDUSD News

Majors,Macroeconomics,Newzealand

NZD/USD loses ground, trading around 0.6100 during Asian trading hours on Wednesday.

NZD/USD depreciates as the

has opted to keep the Official Cash Rate unchanged at 5.50% in its July monetary policy meeting, marking the eighth consecutive meeting with no change. The New Zealand Dollar faces pressure following the release of soft Consumer Price Index data from China, a key trading partner. Chinese CPI rose 0.2% YoY in June, down from a 0.3% increase in May. Market expectations had projected a 0.4% increase for the period. Chinese CPI inflation fell by 0.2% month-over-month in June, compared to a 0.

 

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