Roger J Kerr is pleased the sticky inflation problem is getting acknowledged by the RBNZ. And he reviews where the US Fed is at in its assessments of inflation-control progress
The New Zealand Dollar (NZD) is trading higher in its most traded pairs on Tuesday as markets adopt a positive risk tone, benefiting commodity currencies like the New Zealand Dollar over safe havens.
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Dollar declined broadly overnight, US Treasury's borrowing plan for Q1 that spurred rally in the stock market, propelling it to new record highs while simultaneously exerting downward pressure on yields. Despite this shift, the greenback remains largely within its recent trading range. Market participants seem to be holding the substantial bets for now, awaiting the outcome of FOMC rate decision scheduled for tomorrow. Furthermore, the upcoming non-farm payroll data on Friday is also expected to be a key determinant in shaping the next moves.