The Great Britain pound rose against some currencies and traded about flat versus others today. British employment data provided support to the currency, but traders were reluctant to buy the sterling as the situation with the Brexit was very unclear.
The New Zealand dollar opened sharply lower against some of its major rivals today but has managed to recover by now. The kiwi also extended its Friday’s gains against several other rivals. Positive domestic macroeconomic data was perhaps one of the reasons for the currency’s decent performance today.
The New Zealand dollar ended the week as the weakest among most-traded currencies. The major reason for the poor performance was a larger-than-expected interest rate cut by New Zealand’s central bank, but risk aversion also played a significant part.
The Reserve Bank of New Zealand surprised markets today, cutting interest rates more than was expected. As a result, the New Zealand dollar sank against almost all of its most-traded rivals. While the currency has trimmed losses by now, it is still trading far below the opening level. Surprisingly, the kiwi managed to gain on the Great Britain pound, which remains under pressure from fears of a hard Brexit.
The New Zealand dollar was mixed today, rising against some rivals, falling versus others, and staying flat against some others. Macroeconomic data, both domestic and from abroad, was mixed as well, giving the currency no reason to go in a specific direction.
New Zealand dollar is gaining against some of the major currencies today, thanks in large part to the latest rate cut out of China. Kiwi is expected to remain relatively steady through the end of 2015, although the situation could change in the new year.
New Zealand dollar is getting a boost today, heading a little bit higher after yesterday’s drop. Kiwi is seeing some support, but more weakness could be ahead.
