XE Market Analysis: Europe – Aug 07, 2019

The New Zealand Dollar dove over 2% in hitting its lowest level against the U.S. Dollar since January 2016, at 0.6377, and sank to near seven-year lows in the case against the Yen. This followed a more aggressive than expected 50 bp rate cut by the RBNZ, putting the cash rate at an all-time low 1.00%, which was pinned on flagging growth conditions as a consequence of simmering trade tensions and a global economic slowdown. AUD-USD fell in sympathy, with the RBA, after cutting rates in June and July, having signalled yesterday that more rate cuts could be in the…

Source: XE news feed
XE Market Analysis: Europe – Aug 07, 2019