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Firmer, RBNZ Raises OCR 50bps

NZD

NZD/USD has firmed after the RBNZ raised the OCR 50bps, a 25bps hike had been expected.

  • The pair rose from $0.6310 pre-decision meeting resistance at $0.6380 ahead of the high from Feb 14 at $0.6390.
  • Gains have been moderately pared and NZD/USD sits at $0.6360/65 ~0.8% higher.
  • AUD/NZD fell, printing a fresh YTD low at $1.0621 before rising a touch to $1.0620/30 ~0.6% lower today.

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