NZD Lower vs. USD, Stable vs. Other Majors Ahead of RBNZ

The New Zealand dollar traded lower against its US counterpart today, but was stable against other majors. Traders were waiting for tomorrow’s policy decision of the Reserve Bank of New Zealand.

The RBNZ will announce its decision at 20:00 GMT on Wednesday. The general consensus is that the central bank will keep its main interest rate unchanged at 1.75%. A press conference will follow the announcement, and it may provide some additional insights into the central bank’s plans.

NZD/USD dropped from 0.6943 to 0.6817 as of 12:43 GMT today. EUR/NZD traded flat at 1.6709.

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