Today, all eyes will be on New Zealand for the release of Q2 inflation data. The headline CPI increased by 3.3 % year over year and 1.3 % in the first quarter alone. Expectations and market pricing for a Reserve Bank of New Zealand cash rate hike in the near future.
In the hours after the release of the report, the NZD/USD pair was markedly higher and has traded around 0.6990-0.7020.
The Australian dollar failed to follow the kiwi, and the AUD/NZD fell even further.
The USD/JPY has fluctuated a lot, from lows under 109.80 to highs above 110.
Following the meeting’s outcomes, the USD/JPY is little affected.
This week’s exchange rate between the Australian and New Zealand dollars was AUD/NZD weak and sad.