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US dollar steady ahead of Fed minutes, NZ dollar falls after rate cut
The dollar drifted sideways on Wednesday, giving some relief to the yen and other major currencies after a sharp rally to a seven-week high last week, as investors paused to assess the interest rate path outlook for the United States. The New Zealand dollar slumped to its lowest since Aug. 19 at $0.6096, after the Reserve Bank of New Zealand (RBNZ) cut interest rates by 50 basis points. The kiwi was last down 0.55% at $0.61035. A majority of economists in a Reuters poll last week had predicted a big half a percentage point cut. The central bank kicked off an easing cycle in August seeking to trim rates from 15-year ... (full story)
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- Posted: Oct 9, 2024 12:41am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 7,074
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