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June 2016

Kiwi continues to rally

Published: Thursday 09 June 2016

A quiet morning for the currency markets with the highlights including last night’s RBNZ meeting in which they opted to keep rates on hold at 2.25% as opposed to slashing rates.
The result has seen the Kiwi rise to year highs and this has continued throughout the morning despite poor inflation from China last night, further highlighting their slowdown. This slowdown has impacted other commodity currencies although the Kiwi has continued to rally.
This afternoon we saw the release of the initial jobless claims from the US which will be monitored ahead of the FOMC meeting mid-June. US jobless claims were also down which is positive for the US as it offers some relief from last week’s dire NFP results.
Latest FX news by William Busby