The New Zealand dollar was slightly changed Monday as traders anticipate the minutes of the Federal Reserve’s meeting due Wednesday.
Investors will be awaiting the outcome of the Federal Open Market Committee’s July meeting to figure out whether the US central bank will raise interest rates next month.
The kiwi stood at 58.75 euro cents from Friday’s 58.54 euro cents, 65.32 US cents from 65.31 US cents, 41.69 British pence from 41.84 British pence, and ¥81.19 from ¥81.24.
Expect a calm beginning to US dollar-focused week. “All the releases this week are expected to support September ‘lift-off’,” said ANZ’s Philip Borkin and Sam Tuck.
Today, markets will turn their attention to the Chinese yuan following the People’s Bank of China allowed the currency to trade more freely, as well as the BNZ-BusinessNZ performance of services index.
The material has been provided by InstaForex Company – www.instaforex.com