FXStreet (Córdoba) – NZD/USD edged lower but overall remained within its daily range, as the US dollar strengthened following Fed decision to leave rates unchanged which was accompanied by a not so dovish statement.
NZD/USD dropped to a session low of 0.6480 before the 50-hour offered support. The pair is currently trading at 0.6486, just a few pips below its opening price as attention turns to the Reserve Bank of New Zealand announcement.
The RBNZ is expected to keep the overnight cash rate unchanged at 2.5% as the bank is expected to maintain a wait and see mode following a 25 bps cut in December.
Meanwhile, Fonterra cut milk price forecast minutes ahead of RBNZ announcement.
(Market News Provided by FXstreet)