Business Survey Backs RBNZ Hikes, NZD Strengthens – BBH
BBH notes that the New Zealand Dollar firmed against major currencies as a local business survey reinforces expectations for further RBNZ rate hikes.
NZDUSD
According to Elias Haddad of Brown Brothers Harriman, the New Zealand Dollar gained ground versus major peers. Local bonds underperformed amid domestic data that pointed to ongoing economic resilience.
A recent business survey supported the view that the Reserve Bank of New Zealand will continue tightening policy. The kiwi's move was accompanied by a divergence in rates markets, with local yields rising relative to other developed bond markets.
Source: FXStreet Forex News