The Reserve Bank of New Zealand left the overnight cash rate unchanged at its monetary policy meeting. The central bank acknowledged that the outlook for the economy was somewhat improving. The Kiwi dollar was seen posting some modest gains on the back of the interest rate decision.
The US dollar was seen trading mixed as rumors of possible tax reform delays by President Trump hit the sentiment. EURUSD was seen posting some modest gains although the GBPUSD weakened. The British pound closed lower as ongoing uncertainty in the PM May’s cabinet and the Brexit deal saw investors selling the pound sterling.
Looking ahead, the economic calendar today will see the SNB Chairman Thomas Jordan speaking. On the economic front, the ECB will be releasing its economic bulletin, and the EU commission will be releasing its economic forecasts.
