NZDUSD consolidates in a range around 0.6100 mark, just below two-month high set on Friday – by hareshmenghani NZDUSD Fed Bonds RiskAppetite Currencies
the early European session on Monday. The pair is currently placed just below the 0.6100 mark, nearly unchanged for the day and remains well within the striking distance of a two-month high touched on Friday.to stall softer US consumer inflation figures-inspired slump to its lowest level since mid-August, which, in turn, acts as a headwind for the NZDUSD pair. The US Treasury bond yields edge up in reaction to more hawkish remarks by Fed Governor Christopher Waller on Sunday.
Firming expectations that the Fed will slow the pace of its policy tightening is holding back the USD bulls from placing aggressive bets. Furthermore, the optimism over an eventual scaling back of COVID-19 measures in China offers some support to the NZDUSD pair and limits the downside. Hence, the intraday subdued price move might be categorized as a bullish consolidation phase, suggesting that any meaningful pullback is more likely to get bought into and remain limited.
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