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Dollar Gain, Kiwi Drops as RBNZ Signals Rate Hike Less Likely

Wednesday, 28 February 2024 12:38 WIB Indeks Dolar Dolar AS kiwi EUR/USD USD/JPY, AUD/USD,

The New Zealand dollar underperformed other Group-of-10 peers after the nation’s Reserve Bank signaled diminishing price pressure and a smaller chance of rate hikes this year. The RBNZ held rates at 5.5% for a fifth straight meeting.  The kiwi fell 1.1% from its intraday high after decision, while the two-year interest-rate swap tumbled 23 basis points to 5.02% Hedge funds are unwinding long cash positions in the kiwi versus the Aussie and greenback following RBNZ’s monetary policy decision, according to traders The RBNZ lowered its forecast cash rate peak to 5.60% from 5.69% previously  The New Zealand dollar is “feeling the strain from an RBNZ...

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