The New Zealand dollar traded 1.5% lower today after the overnight session showed that the RBNZ was likely to cut interest rates in the near term. The central bank left the official cash rate unchanged at 1.75% at today’s meeting.
Meanwhile, the market sentiment improved on Tuesday after the Treasuries gave back the gains easing fears of a recession. Chicago Fed member Evans, an FOMC voting member, said that the Fed is unlikely to cut rates until the second half of 2020.
