Kiwi On a Free Fall after RBNZ Policy Meeting; Swiss Franc Is Soaring!

Thursday, 10/08/2017 | 07:18 GMT

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Kiwi fell aggressively as RBNZ maintained a dovish tone, while the franc added significant gains, as traders turned to safe-haven currencies amid geopolitical tensions. The U.S. and North Korea’s conflict escalates but the buck ignores both the negative politics and the optimistic economic data, and continues being traded mixed versus the majors.
Kiwi On a Free Fall after RBNZ Policy Meeting
The Reserve Bank of New Zealand left its official cash rate unchanged at 1.75% and Governor Wheeler mentioned that the monetary policy will remain stable for some time. At the time of the announcement NZD/USD climbed to 0.7370 but erased all its gains right after. The central bank revised to the downside its short-term inflation outlook and mentioned once again that a lower currency is needed for economic growth, pushing the kiwi strongly lower.

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Source: https://www.jfdbrokers.com/en/research-education/jfd-research/daily-market-report/6-daily-market-report/12531-kiwi-on-a-free-fall-after-rbnz-policy-meeting-swiss-franc-is-soaring

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