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4 Feb 2015
NZD/USD: Drops like a stone on Wheeler and recovers
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7353 with a high of 0.7367 and a low of 0.7287
The NZD/USD has recovered in a bounce from 0.7287 and longs got back in taking the bird up to highs of 0.7367 in the same 10 minute stick.
NZD/USD initially dropped on Wheeler as markets get to grips with the new outlook from the Central Bank, the RBNZ, and understand that the policy is back to neutral and a "period of cash rate stability is most prudent option". Inflation is seen below target band and until the labour market improves significantly enough to boost inflation, rates will remain as they are.
The NZD/USD has recovered in a bounce from 0.7287 and longs got back in taking the bird up to highs of 0.7367 in the same 10 minute stick.
NZD/USD initially dropped on Wheeler as markets get to grips with the new outlook from the Central Bank, the RBNZ, and understand that the policy is back to neutral and a "period of cash rate stability is most prudent option". Inflation is seen below target band and until the labour market improves significantly enough to boost inflation, rates will remain as they are.