"New Zealander" fell to the almost minimum of last five years. This is due to the fact that Graeme Wheeler, the head of the Central Bank, caused panic with his statements in the currency market. At this rate, NZD will soon reach its lowest level since September 2011, and that is all because of the fact that the RBNZ lowered its benchmark interest rate to 3.25%. This move came as a surprise for many market participants, in addition it is quite probable the new rate reduction. This Wednesday there was a performance the two heads of the central banks of Japan and Australia, Haruhiko Kuroda and Glenn Stevens that their comments have provoked strikes against the yen and the Australian dollar. Thus the US dollar appears in the competitive mode against the "majors" once again, as traders continue to hope for the Fed's decision on raising rates until the end of this year.
Mr. Sharif, a market strategist at Bank of New Zealand, believes that the central bank has an advantage over fiscal policy now, the whole thing in its flexibility and high activity. "The lack of liquidity - one of the main reasons for this movement. After a strong price action, the market temporarily retreats, in consequence of which sharp fluctuations appear. "- The New Zealand expert shares with us . Thus, this morning in London "New Zealander" fell by 2.6% to 69.98, and then there was small "kickback."
Another currency strategist Richard Grace expects the continuation of upward movement for the AUD/NZD, and explains it by the confidence to further reduce rates by the RBNZ. However, not all analysts agree with this forecast and believe that the situation will not change.