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Aug 28 - 10:55 PM

NZD/USD - Rallies To A Near 8-Month High As Biz Confidence Soars

By Krishna K  —  Aug 28 - 10:25 PM
  • NZD/USD rallies 0.6% in Asia, rises to 0.6291, highest since Jan 2

  • Boosted by soaring New Zealand business confidence in August

  • Westpac says confidence up across a range of measures on dovish RBNZ

  • NZD purchases versus AUD provide further lift , pair down 0.6% Thursday

  • AUD/NZD down 2.4% since Aug 16 despite RBA-RBNZ diverging rate expectations

  • NZD/USD likely to find strong resistance at 0.6320, the high in 2024

  • Support at 0.6245-50, 0.6220; Asia range 0.6242-0.6291

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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