Wild ride in store for the New Zealand dollar

The kiwi dollar is in for a wild ride this week. (Image: Getty)

Tue, 27 Feb 2024

The New Zealand dollar is in for a wild ride this week as investors jostle for position ahead of the Reserve Bank of NZ’s monetary policy review on Wednesday. After hitting a high of US62.18 cents (NZ$1) late last week, it traded at US61.71c at 4.30 pm in Wellington on Monday. ANZ pegs initial resistance at US62.55c. The debate has been heated in the past few days after ANZ said the Reserve Bank of NZ (RBNZ) would hike by 25 basis points to 5.75% this week and then again in May, taking the official cash rate (OCR) to 6.0%.ANZ Ba...

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