NZD/USD could reach 0.6150 as US Dollar remains subdued

📆 5/27/2024 5:54 AM
📰 FXStreetNews

⏱ Reading Time:
21 sec. here
5 min. at publisher
📊 Quality Score:
News: 22%
Publisher: 72%

NZDUSD News

Majors,Macroeconomics,Newzealand

NZD/USD continues its winning streak for the fourth successive day, trading around 0.6130 during the Asian hours on Monday.

NZD/USD remains stronger amid a softer US Dollar on Monday. The US Dollar lost ground after the 10-year US Treasury yield depreciated on Friday. The New Zealand Dollar received support as RBNZ raised the forecast for peak rates and postponed the timing of a rate cut.

Across the pond, the New Zealand Dollar remains supported by the hawkish stance of the Reserve Bank of New Zealand . The central bank has raised its forecast for a peak in interest rates and delayed the timing for any rate cut. The RBNZ kept its cash rate at a 15-year high of 5.5%, indicating that restrictive policy needs to be maintained longer to ensure inflation returns to the 1-3% target range.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NZD/USD edges lower to near 0.6000 amid stable US DollarThe NZD/USD pair experienced a slight decline after three consecutive days of gains, trading around 0.6000 during the Asian session on Monday.
Source: FXStreetNews - 🏆 14. / 72 Read more »