5 Mar 2015
AUD/NZD soars to 1.0400
FXStreet (Córdoba) - The AUD/NZD pair is having the biggest daily gain in more than a month on Thursday, boosted by a decline of the kiwi across the board.
The NZ currency is the worst performer so far among majors weakened after the Reserve Bank of New Zealand announced during the Asian session that it is considering new rules for residential property investors, to curb its activity in the housing market which could delay a rate hike.
The New Zealand dollar lost ground and sent AUD/NZD from record low levels to test weekly highs. Price jumped from 1.0282 to 1.0360; and after a pause resumed the upside on European hours and climbed to 1.0401, reaching a 1-week high.
Currently trades at 1.0380, almost a hundred pips above the level it closed yesterday, after pulling back from the key resistance area located around 1.0400, that also capped the upside on Tuesday.
The NZ currency is the worst performer so far among majors weakened after the Reserve Bank of New Zealand announced during the Asian session that it is considering new rules for residential property investors, to curb its activity in the housing market which could delay a rate hike.
The New Zealand dollar lost ground and sent AUD/NZD from record low levels to test weekly highs. Price jumped from 1.0282 to 1.0360; and after a pause resumed the upside on European hours and climbed to 1.0401, reaching a 1-week high.
Currently trades at 1.0380, almost a hundred pips above the level it closed yesterday, after pulling back from the key resistance area located around 1.0400, that also capped the upside on Tuesday.