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NZD surge on RBNZ Statement

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Forex news for Asia trading on
Wednesday
26
May 2021

Traders
assessed the Reserve Bank of New Zealand Monetary Policy Statement as
leaning a little less dovish with the track ahead of the OCR
indicative of a possible rate hike in the second half of next year.
This was enough to give the Kiwi $ a decent push higher as it was
marked-up towards 0.73. The
AUD was
dragged along
behind, moving above 0.7775 in the kiwi’s wake.

Gains for the New Zealand dollar continued as Governor Orr’s press conference followed an hour after the Statement release. NZD/USD pierced 0.73.

Elsewhere
across major FX ranges were subdued again during the session.

The
People’s Bank of China set the mid-rate for onshore yuan at its
strongest (lowest for USD/CNY)
since the middle of 2018.

Crypto
continued its stabilisation, BTC/USD moved back above $39K again. 

Forex news for Asia trading onWednesday26May 2021



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