Since markets opened after new year we have seen overall USD strength against majority of pairs with Euro, GBP, JPY all losing ground against USD. However, the price action was completely opposite on NZDUSD with an almost 200 pips bullish move.
In my view this move is purely based on fundamentals, as some recent reports suggest that New Zealand is likely to raise interest rates this year. Moreover, the Reserve Bank also laid out a plan to bring rates from the record low of 2.5% to 4.75% by the f…
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