A snippet via BNZ to review the NZD past performance and to open the new month.
On the two central banks of relevance to NZD/USD:
- the Fed's super-dovish policy stance is more than offsetting the RBNZ's super-dovish policy stance
But the Fed posture is a plus for the kiwi:
- the former supporting risk appetite and commodity prices, two supporting factors for the NZD
Both of those points apply to AUD also. Which are two reasons the RBA is responding with a shrug to AUD strength (AUD hit a two year high above 0.74 overnight):
Lowe on the AUD:
