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Kiwi Looks to RBNZ Rate Decision to Build on Bullish Momentum
New Zealand’s dollar is poised to extend recent gains and rally toward its March high as concern over elevated inflation damps expectations for interest-rate cuts this year. The kiwi climbed to the strongest level in two months last week, breaking out of the downtrend it’s been in since the start of 2024. The currency may get another boost on Wednesday if the Reserve Bank of New Zealand pushes back against market forecasts for policy easing by year-end. Swaps traders are pricing in 47 basis points of RBNZ rate cuts this year, aided by weaker-than-expected first-quarter employment data, declining business ... (full story)