NZD USD THIS WEEK SHORT POSITIN
With the US Dollar (USD) holding its previous strength, the NZD/USD pair remains on a back foot around 0.6760 at the start of Monday’s trading session in Asia.
The kiwi pair pared gains on Friday after the Fed officials’ effort to tame market expectations of a 50 basis points (bps) rate cut got good response ahead of the July meeting by the Federal Open Market Committee (FOMC).
Adding to the pair’s pullback was the uncertainty surrounding the US-China trade deal. Despite announcing a trade truce, the world’s two largest economies are still far from any deal and the Antipodeans remain compressed on it.
The kiwi pair pared gains on Friday after the Fed officials’ effort to tame market expectations of a 50 basis points (bps) rate cut got good response ahead of the July meeting by the Federal Open Market Committee (FOMC).
Adding to the pair’s pullback was the uncertainty surrounding the US-China trade deal. Despite announcing a trade truce, the world’s two largest economies are still far from any deal and the Antipodeans remain compressed on it.
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