The New Zealand dollar, paired with the US dollar, has come to a pause. The current NZDUSD exchange rate stands at 0.6006.
The Kiwi dollar has regained a relatively stable position. The market turned in favour of currencies other than the US dollar after Federal Reserve officials once again expressed their doubts about the likelihood of a near-term interest rate cut.
These deliberations will be endless until the Fed makes a final decision and announces it to the market.
Nevertheless, the market consensus forecast for the NZD suggests that the Kiwi will rise this year, following the AUD’s trajectory and benefitting from the weakening of the US dollar exchange rate.
Signals from the Reserve Bank of New Zealand are reasonably consistent. It has previously stated that it remains focused on controlling inflation.
Origin: RoboForex
