New Zealand Dollar gave back gains as hot US PPI offsets RBNZ expectations rise
NZD/USD ended Wednesday virtually flat, though the session produced a sharp two-way range of close to 50 pips.
The New Zealand Dollar may face downward pressure due to the stronger-than-expected US PPI data, which could reinforce expectations for a more aggressive monetary policy in the US. This may lead to a bearish sentiment in the NZD/USD pair in the short term.
NZD/USD ended Wednesday virtually flat, though the session produced a sharp two-way range of close to 50 pips.
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