The New Zealand dollar found a steadier footing on Tuesday following a recent selloff, but markets remained cautious ahead of a possible rate cut by the Reserve Bank of New Zealand this week. The kiwi was hemmed in a wafer-thin range between $0.7368-$0.7392. It last stood at $0.7389, up slightly from $0.7361 late in New York.
The euro was last at NZ$1.8915, off a near one-year peak of NZ$1.9024 set on Monday. Against the Aussie, it traded at A$1.3810 compared with a five-week high around A$1.3849 reached on Friday. Meanwhile the Aussie drifted between $1.0106 and $1.0133, edging towards the lower end of a well-worn $1.0070-$1.0200 range having failed on the upside recently. Against kiwi, Aussie bought NZ$1.3695, finding the going tough after reaching a 19-year high near $1.38 on Monday.
Comments
Comments are closed for this article.