New Zealand dollar hits 17-week low against dollar
On Wednesday, the New Zealand dollar-dollar currency pair was slightly above zero ahead of the results of the Fed's policy meeting..6024 hovers near 17-week low。
On Wednesday, the New Zealand dollar-dollar currency pair was slightly above zero ahead of the results of the Fed's policy meeting..6024 hovers near 17-week low。
The Fed will leave its target range for the federal funds rate unchanged at 5 at its fifth consecutive policy meeting in March..25% -5.A 23-year high of 50%。
With both consumer and producer-level inflation showing signs of stickiness, investors played down expectations for the pace and size of the Fed's rate cuts this year。This has supported the dollar over the past few sessions.。
The market has now priced in a 73 basis point Fed rate cut, compared to 150 basis points in early 2024.。
According to CME's Fed Watch Tool, the market now expects a 59% probability of a Fed rate cut in June。
Meanwhile, on the macro data front, NZD traders are now focusing on the fourth quarter report on New Zealand's GDP growth, which is expected to be published at 21: 45 GMT.。
The New Zealand dollar was down 0 against the dollar as of 11: 15 GMT Wednesday.35%, trading at 0.6031。
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