The New Zealand Currency has shown strength today. This after a good business survey leveled an increase in inflation for November. The Aussie dollar rose of its own will today as trade closed. The USD and a few peers remained stable. Investors await the results of the Federal Reserve’s get together from back in June. This meeting really threw a lot of us for a loop, to say the least. The Fed’s announcement came an expected time but the things they released were anything but. Federal policies have been discussed much lately, and inflation is the hot topic.
The full results and minutes from the meeting are being released this week. The euro stayed stable at $1.1860, which is about where it was last week at close. The Japanese yen inclined to 110.86 per USD. Sterling inclined by a modest amount after Britain declared plans to end COVID restrictions very soon. BPD was against the dollar at $1.3857.
The Aussie dollar has gained 0.2% and inclined to $0.7541, but it was stopped short of rising further gains while it waits for its own bank to declare its minutes. Surveys from New Zealand revealed a stark improvement in sentiment and a rumbling of raising prices with an extremely high level of firms dealing with hiring problems. This has prompted ASB Bank to move forward rate increase forethought to a mere four months away.
“It is very clear that record amounts of monetary stimulus are no longer needed to support the economy and inflation risks are getting too high for comfort,” said ASB senior economist Jane Turner in a note.
“We now expect the RBNZ to start lifting the OCR from November this year (previously May 2022).” MetaNews has experts keeping track of the various indexes that monitor these movements. The New Zealand Currency has shown strength today.