Yesterday saw the Canadian dollar gain strength against the US dollar as President Obama had suggested at the G7 summit that a strong dollar was a problem as it was hurting exports. The Canadian dollar also saw strong movement against the euro, when German Chancellor Angela Merkel warned there isn’t much time left to come to a decision on the cash reforms for Greece.
Today we see the official cash rate for the New Zealand Dollar released. This is expected to come in at 3.5%, with no change from previous – meaning there might not be too much movement for the currency against major pairs. Following the release of this data, there will also be the main press conference for the Royal Bank of New Zealand, where they will discuss monetary policy including overall economic outlook and inflation.
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