NZD/USD retraces its recent gains observed on Friday, trading lower near 0.6140 during the Asian session on Monday. Despite the subdued US Dollar (USD), the NZD/USD pair experiences a decline due to the Reserve Bank of New Zealand (RBNZ) Overnight Indexed Swap (OIS) rates continuing to pare Friday's post-ANZ forecast firming. Last week, ANZ projected that the RBNZ would increase cash rates by a quarter point in February and April amid elevated cost pressures, bringing them to 6.0%. The RBNZ is scheduled to hold its policy meeting for the first time this year at the end of the month. Reserve Bank of New Zealand (RBNZ) ... (full story)