Kiwi Dollar Edges Lower, RBNZ Decision Eyed
On Tuesday, the New Zealand dollar adjusted to approximately $0.598, following a turbulent session on Monday that saw the currency briefly reach its highest point in nearly seven months. Market participants are now focusing on the Reserve Bank of New Zealand's upcoming policy announcement on Wednesday. The central bank is anticipated to implement its sixth consecutive interest rate reduction, which could lower the official cash rate by 25 basis points to 3.25%. Traders are also keenly awaiting the bank's updated economic forecasts, seeking clarity on the potential ramifications of global trade tensions on economic growth. Externally, the Kiwi has garnered some support due to a weakened US dollar, influenced by apprehensions regarding the US fiscal outlook and ongoing uncertainties about tariffs.
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