Earlier from the Reserve Bank of New Zealand decision today:
- Committee is confident that maintaining the OCR at a restrictive level for a sustained period will return consumer price inflation to within the 1 to 3 percent target range this calendar year
- NZD/USD traded higher on the inflation-fighting RBNZ statement
NZD/USD is making new session highs, underpinned by a hawkish RBNZ. Hourly candles show a previous top right about where we are at present – there will be a little work to do:
This article was written by Eamonn Sheridan at www.forexlive.com. Source