The NZD/USD pair refreshes a three-week high near 0.6150 in Monday’s Asian session.
NZD/USD prints a fresh three-week high amid weak US Dollar and uncertainty ahead of RBNZ policy. The US Dollar falls on the backfoot due to moderating US labor market conditions. Investors expect that the RBNZ will hold its OCR at 5.5%.
This week, the New Zealand Dollar will be in the spotlight due to the Reserve Bank of New Zealand’s monetary policy meeting on Wednesday. The RBNZ is widely anticipated to leave its Official Cash Rate unchanged at 5.5%. Therefore, investors will pay close attention to the commentary on the interest rate outlook. Market participants see the RBNZ keeping its key rates steady for the entire year.
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