It was believed that the RBNZ would signal a phase out of its macro-prudential measure aimed at containing risky mortgage lending. But the central bank retained such restrictions as it seems to think that record immigration could anytime stoke home inflation. The RBNZ maintained its rhetoric against the currency, saying the domestic unit’s level is unjustified given falling dairy prices. This usual remark however didn’t have a dampening impact on NZD/USD. The pair rose as high as 0.7852 before easing to 0.7843. It is possible that the Kiwi could extend its gains as the dollar remains broadly soft.
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