The New Zealand dollar rose in the European market on Wednesday against a basket of global currencies, expanding its gains for the fifth day in a row against the US dollar, recording the highest level in nearly four months, and topping the list of winning currencies in the forex market, after the Reserve Bank meeting.
In line with expectations, the central bank left New Zealand's interest rates unchanged for the fourth meeting in a row, keeping the benchmark interest rate range at a 15-year high.
But It kept the door open for additional increases in New Zealand interest rates during the coming period, after monetary policy data and economic expectations were more stringent than expected in the markets.
The New Zealand dollar rose against the US dollar by 1.2% to 0.6208, the highest since the first of last August, from today’s opening price of 0.6137, and recorded the lowest level at 0.6133.
The New Zealand dollar on Tuesday rose 0.65% against the US dollar, its fourth straight daily gain, benefiting from a fall in the dollar and US yields following dovish comments by Federal Reserve officials.
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