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RBNZ On Hold But Reduced Risks Of A Hike Sends NZD Lower

NZD

The RBNZ left rates on hold as widely expected. However, the statement and MPC language came across as more dovish relative to market expectations, particularly around hike risks this year. The NZD/USD has fallen sharply, last back to 0.6120, off around 0.80%. We were closer to 0.6175 prior to the print.

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