Flash: NZD/USD: RBNZ keeps rates on hold - UBS

FXstreet.com (Córdoba) - During Thursday's Asian session, the Reserve Bank of New Zealand kept policy rates unchanged at 2.5%, largely in line with market expectations. However, the NZD weakened on the news. The UBS team commented on the matter.

Key Quotes

"The accompanying RBNZ statement continues to reiterate that interest rate normalization will begin soon".

"However, the NZD weakened upon disappointment from some market participants who were speculating for a rate hike, as well as due to poor risk sentiment amid ongoing volatility in emerging market currencies".