NZD/USD bulls moving in on critical daily resistance but US dollar bites back By ross_burland NZDUSD Commodities Currencies Fed DollarIndex
RBNZ will be the focus now that the markets have traded the US CPI.is up some 0.5% and has travelled from a low of 0.6805 to a high of 0.6889 so far. However, the Us dollar has firmed in recent trade owing to a recovery in US yields and the hawkish narrative surrounding the Federal Reserve.
Nevertheless, the greenback did not stay down for long and US Treasury's 10-year auction hit a high yield of 2.72% on Tuesday, up from the 1.92% high in the previous month has helped to support a hawkish sentiment in markets. The bid to cover ratio for the auction was 2.43, down from the 2.47 ratio in March and the 10-year yield is recovering from the lows of the day.
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