ForexLive Asian market wrap: RBNZ raises rates @ Forex Factory

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ForexLive Asian market wrap: RBNZ raises rates

The RBNZ raised interest rates by 25 bps to 3.00% but the subsequently slightly dovish statement saw the NZD fall immediately Japan's June retail sales +3.2% YoY Governor Schwarznegger declares a fiscal emergency in California Regional stockmarkets fall by less than 0.5% on average Apart from a few minor bursts of activity it has been a very quiet sesion here in Asia with most of the majors trading close to their NY closing levels. The NZD/USD fell from .7275 to .7210 immediately after the RBNZ announcement and statement and this dragged the AUD/USD lower also, towards its overnight low at .8910. AUD/NZD short-covering above 1.2350 helped the AUD recover and it closes the session... Full Story

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redbarron

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Submitted Jul 29, 2010 12:01am

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