FXStreet (Córdoba) – NZD/USD rebounded sharply after hitting a fresh multi-year low at 0.6868 and currently is testing the 0.7000 area. Greenback weakened in the currency market after the Fed meeting and with Yellen remarks.
The pair rose more than a hundred pips from the lows and erased daily losses in a just a few minutes. Price reached at 0.7011 the highest level since last Friday but so far it has been unable to consolidate above 0.7000; it still remains near the mentioned area and holding a bullish tone.
After Fed, NZ GDP data
Yellen mentioned that current economic conditions do not warrant a rate hike yet signaling that it will take more time than previously expected for the liftoff. Still, FOMC officials expected to raise rates during 2015.
After Yellen’s press conference, at 22:45 GMT growth data from New Zealand will be released. Market consensus point for a 0.6% increase in GDP during the first quarter.
(Market News Provided by FXstreet)