27 Jan 2015
NZD/USD holds above 0.7400
FXStreet (Córdoba) - The kiwi is rising modestly against the US dollar on Tuesday, at the beginning of the 2-day Federal Reserve meeting and ahead of the Reserve Bank of New Zealand (RBNZ) decision.
The NZD/USD traded all day so far above 0.7400 and peaked on European hours at 0.7454. Currently trades at 0.7435/40, 25 pips above the level it closed yesterday, headed toward the first gain after falling on the previous seven trading days. A weak Greenback supported the upside in NZD/USD, that recovered after dropping on Monday to 0.7396, the lowest price since November 2011.
The RBNZ will announced its decision on monetary policy on Wednesday after Wall Street closing bell, that could have a bigger impact on the pair than the FOMC meeting. Analysts expect that the RBNZ will keep rates unchanged and removed or diminish the tightening bias.
The NZD/USD traded all day so far above 0.7400 and peaked on European hours at 0.7454. Currently trades at 0.7435/40, 25 pips above the level it closed yesterday, headed toward the first gain after falling on the previous seven trading days. A weak Greenback supported the upside in NZD/USD, that recovered after dropping on Monday to 0.7396, the lowest price since November 2011.
The RBNZ will announced its decision on monetary policy on Wednesday after Wall Street closing bell, that could have a bigger impact on the pair than the FOMC meeting. Analysts expect that the RBNZ will keep rates unchanged and removed or diminish the tightening bias.