NZD/USD extends the advance from the start of the month on the back of broad based US Dollar weakness, but the New Zealand Dollar may face headwinds over the near-term as the Reserve Bank of New Zealand (RBNZ) endorses dovish forward guidance for monetary policy. NZD/USD appears to be on track to test the September-high (0.6451) amid growing speculation for another Federal Reserve rate cut. In fact, Fed Fund futures now show a greater than 90% probability for another 25bp reduction on October 30, and the central bank may continue to reverse the four rate-hikes from 2018 amid fears of a looming recession. Updates to ... (full story)