This week we have seen major movement from the Russian rouble, which recovered yesterday after starting the week on somewhat uncertain footing.
Yesterday New Zealand Dollar buyers find some momentum in the Kiwi dollar’s fall against the US Dollar to six-week lows. This was the biggest fluctuation in months as a rate increase by the Bank of New Zealand to a world best of 3.5%. The Kiwi dollar was hit hard, and four rate hikes in a row were enough to increase concerns over the currency appreciating too quickly. This more aggressive approach by the central bank has put a short-term cap on the New Zealand Dollar, which previously was at multiyear highs against the US Dollar at $0.8800. Elsewhere we see very little data out from the rest of the world, the only piece of data of note being inflation figures from Japan.
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