New Zealand Dollar Appreciates As RBNZ To Cease LSAP Program
The New Zealand dollar spiked higher against its major
counterparts in the Asian session on Wednesday, after the Reserve
Bank of New Zealand decided to terminate additional asset purchases
under the Large Scale Asset Purchase programme, citing that the
major downside risks of deflation and high unemployment had
The Monetary Policy Committee of the Reserve Bank of New Zealand
said that it will halt additional asset purchases under the Large
Scale Asset Purchase programme, or LSAP by July 23.
The committee decided to hold the official interest rate at 0.25
percent and the Funding for Lending Programme unchanged.
Policymakers observed that the economy remains robust despite
the ongoing impact from international border restrictions.
In the absence of any further significant economic shocks, more
persistent consumer price inflation pressure is expected to build
over time due to rising domestic capacity pressures and growing
The kiwi jumped to a 1-week high of 0.7023 against the greenback
from yesterday's close of 0.6942. The kiwi may face resistance
around the 0.72 region.
The kiwi approached a 6-day high of 77.60 against the yen, up
from Tuesday's closing value of 76.78. Further rally in the
currency may find resistance around the 79 region.
The kiwi was up against the euro, at a 1-week high of 1.6777.
The pair had closed Tuesday's deals at 1.6942. Next near term
resistance for the kiwi is found around the 1.66 level.
The New Zealand currency climbed to its highest level since June
1 against the aussie, at 1.0627. At yesterday's trading close, the
pair was quoted at 1.0710. The kiwi may face resistance around the
Survey from Westpac Bank showed that consumer confidence in
Australia remains firm in July as its sentiment index gained 1.5
percent to a score of 108.8 - up from 107.2 in June.
Confidence has held up overall despite a sharp fall in NSW as
other states - notably Victoria and Western Australia - recorded
strong bounce-backs from COVID-related disruptions in June.
Looking ahead, Eurozone industrial production for May is due in
the European session.
Canada manufacturing sales for May, U.S. producer prices for
June and Fed Beige book report will be released in the New York
The Bank of Canada will announce its interest rate decision at
10:00 am ET. The BoC is widely expected to keep its policy rate
steady at 0.25 percent.
Federal Reserve Chair Jerome Powell is due to testify on the
semi-annual monetary policy report before the House Financial
Services Committee in Washington DC at 12 pm ET.
NZD vs Yen (FX:NZDJPY)
から 8 2021 まで 9 2021
NZD vs Yen (FX:NZDJPY)
から 9 2020 まで 9 2021