NZD at 8-month high and there's more to come

(Image: Getty)

Mon, 26 Aug 2024

The New Zealand dollar is reaping the benefits of markets banking on a September rate cut in the United States.The kiwi was trading at 62.29 US cents at 2pm on Monday in Wellington. It touched 62.38 overnight on Friday, its highest level since mid-January. “The catalyst was US Federal Reserve chair Jerome Powell’s Jackson Hole speech, which markets read as essentially locking in a September cut,” said ANZ Bank economists. The time has come“The time has come for policy to adjust,” Powell said in...

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