The New Zealand dollar gained today as Forex trading were readying for the release of minutes from the Federal Reserve. The US dollar dropped ahead of the event, allowing other currencies to rally.
The Federal Reserve is going to release minutes of its latest policy meeting on 18:00 GMT today. Market participants hope that the report will help to assess possible timing for an interest rate hike. It is hard to guess the market reaction to the release, but before the event most currencies, including the New Zealand dollar, are trading higher at the expense of the greenback.
NZD/USD rallied from 0.7492 to 0.7584 as of 12:55 GMT today. NZD/JPY gained as well, rising from 90.10 to 90.77.
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