February 28, 2024 – Written by David Woodsmith
Leave a comment STORY LINK Pound Sterling Hits 2-Week Best vs New Zealand Dollar on Dovish RBNZ
The New Zealand dollar slumped following the Reserve Bank of New Zealand (RBNZ) interest rate decision with rates held at 5.50%.
This was the consensus forecast, although a minority of banks had backed a rate hike and markets had priced in around a 23% chance of a hike.
The New Zealand dollar to US dollar (NZD/USD) exchange rate plunged to the 0.6100 level from near 0.6180 ahead of the decision.
The Pound to New Zealand dollar (GBP/NZD) exchange rate also jumped to 2-week highs at 2.0740.
ING still sees a strong case for buying the kiwi…
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