The New Zealand dollar hit a mid-week hump as it fell to five week lows against its US counterpart on Wednesday. This was largely due to the fact that expectations for a US rate hike had gathered momentum and boosted the already well performing US dollar. On top of this, experts are looking to Thursday’s Reserve Bank of New Zealand meeting, where they are expected to leave their benchmark interest rate on hold at 3.5%.
Canada also bears the brunt of a strong US dollar
Mid-week saw poor performance for the Canadian dollar, as it too suffered at the hands of the strong US dollar, hitting new one-month lows. USD/CAD hit 1.2710, down just over a quarter of a percent on the previous day.
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