The New Zealand dollar sinks most among G10 currencies

Technical Analysis

Author: Adam Button | nzd

NZD/USD lags the market

The New Zealand dollar is the worst performing major currency today in a 0.8% fall against the US dollar. The decline comes after a report saying the RBNZ was working on a plan for unconventional policy strategy, while working it was at a very early stage.

Naturally, it's only preparation (just in case) but with rates nearing the zero bound, it shows that New Zealand isn't afraid to experiment.

NZD/USD lags the market
Technically, the drop isn't particularly damaging. It slows the uptrend but it was stretched on the recent move anyway.

Ultimately, trade is going to decide what the next move is for markets at the moment, it's creeping towards a better outcome.

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