The New Zealand Dollar is reacting higher following the RBNZ decision to maintain unchanged its interest rates at 3.5% and its statement.
The bank affirmed that they "expect to keep the OCR on hold for some time. Future interest rate adjustments, either up or down, will depend on the emerging flow of economic data."
The NZD/USD collapsed around 150 pips from 0.7475 to trade at lows since March 2011 at 0.7325. Currently, NZD/USD is trading at 0.7336, down -1.62% on the day, having posted a daily high at 0.7497 and low at 0.7329.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
The bank affirmed that they "expect to keep the OCR on hold for some time. Future interest rate adjustments, either up or down, will depend on the emerging flow of economic data."
The NZD/USD collapsed around 150 pips from 0.7475 to trade at lows since March 2011 at 0.7325. Currently, NZD/USD is trading at 0.7336, down -1.62% on the day, having posted a daily high at 0.7497 and low at 0.7329.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
