Kiwi Trades Mixed as RBNZ Less Likely to Cut in June

[kreslik.news]

NZDUSD traded in a 350-pip range throughout April and May. The pair made a double-top in early May and then declined alongside the Aussie. Price action during mid-May was relatively mixed as the market continues to reprice lower chances of a June cut due the concerns held by the RBNZ of stimulating the overheating housing market.

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Kiwi saw a rally across the board on May 11 when the RBNZ released their biannual Financial Stability Report. The report did not ... (read more)