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12 Mar 2014
AUD/NZD drops sharply to fresh 6-week lows after RBNZ
FXStreet (Córdoba) - The AUD/NZD spiked to 1.0644 after the RBNZ announced a rate hike of 25 basis points but then bounced and plummeted below 1.0600. The pair bottomed at 1.0537 and remains near lows, under pressure.
The Kiwi is rising across the board following the decision of the central bank and its statement. According to the RBNZ the adjustment process has started, with an increased of the OCR to 2.75%. It was the first move in rates since 2011.
AUD/NZD approaching multi-year lows
The Kiwi rose against the Aussie for the fourth day in a row on Wednesday, resuming the long term trend. The AUD/NZD posted the lowest daily close since 2005 and is approaching 2014 lows that lie at 1.0490.
The Kiwi is rising across the board following the decision of the central bank and its statement. According to the RBNZ the adjustment process has started, with an increased of the OCR to 2.75%. It was the first move in rates since 2011.
AUD/NZD approaching multi-year lows
The Kiwi rose against the Aussie for the fourth day in a row on Wednesday, resuming the long term trend. The AUD/NZD posted the lowest daily close since 2005 and is approaching 2014 lows that lie at 1.0490.