The New Zealand Dollar weakened against the Pound and the US Dollar but it still trading close to five-year high against its Australian counterpart.
The New Zealand Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5249
The ‘Kiwi’ slipped after the US Federal Reserve chose to maintain interest rates at 0.25% and offered very little indication or clues over its plans to withdraw its stimulus measures later in the year. Federal Reserve Chairman Ben Bernanke didn’t offer any clues on plans to taper the $85 billion monthly bond purchasing programme, saying that policy makers are still monitoring the data.
“There was never going to be a big song and dance today, the big announcement, if any, will be at the September meeting” which includes the Fed’s forecasts, said Imre Speizer, market strategist at Westpac Banking Corp in Auckland.
“I still fancy the kiwi falling over the next few months into the low 70’s, and this payrolls number and the next will tell if I’m wrong or not.”
The ‘Kiwi’s’ five year high against its Australian cousin could begin to slow after economists began to suggest that the value is looking overstretched. The rise comes as the Australian economy slows and New Zealand’s improves, setting the two economies on diverging tracks as their fortunes differ. The slowdown in the Australian economy is linked to a slowdown in the country’s mining sector and the slowdown in the Chinese economy.
Current New Zealand Dollar (NZD) Exchange Rates
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The New Zealand Dollar/US Dollar Exchange Rate is currently in the region of: 0.7960 <
The New Zealand Dollar /Euro Exchange Rate is currently in the region of: 0.6010 <
The New Zealand Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5249 >
The New Zealand Dollar /Australian Dollar Exchange Rate is currently in the region of: 0.8871 >
The US Dollar/ New Zealand Dollar Exchange Rate is currently in the region of: 1.2562 >
The Pound Sterling/New Zealand Dollar Exchange Rate is currently in the region of: 1.9048 <
The Euro/ New Zealand Dollar Exchange Rate is currently in the region of: 1.6639 >
The Australian Dollar/New Zealand Dollar Exchange Rate is currently in the region of: 1.1272 <
The Canadian Dollar/New Zealand Dollar Exchange Rate is currently in the region of: 1.2202 >
(Correct as of 12:00 pm GMT)
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