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New Zealand Dollar Rallies as RBNZ Forecasts Hikes

New Zealand Dollar Rallies as RBNZ Forecasts Hikes

John Kicklighter, Chief Strategist

Talking Points:

• The RBNZ held its benchmark lending rate at 2.50% at its most recent policy meeting

• For forecast, though, Governor Wheeler expected rates will have to increase 2.25% in 2.5 year

• The New Zealand dollar has the most enviable (hawkish) rate forecast of the majors

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Watch the recording of John Kicklighter's coverage of the FX market's reaction to the RBNZ rate decision. The New Zealand dollar has the highest yield amongst the majors, and its future return is looking even more remarkable after the RBNZ decision. While the central bank held rates this go around, Governor Wheeler expects rates will need to rise over 2.00 percent in the next 2.5 years. What does this mean for pairs like NZDUSD, NZDJPY, GPBNZD and AUDNZD?

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.