The Reserve Bank of New Zealand left the interest rate unchanged as expected, and the statement was not enough to help the kiwi.
NZD/USD is down around 40 pips, from 0.8265 to 0.8215, and the downfall continues.
A rate hike in March is possible after the governor of the RBNZ said that he expects to begin the “rate adjustment†soon. He said the obvious: that the moves will depend on the economy.
Nevertheless, markets do not seem to be excited about an imminent move. Earlier, the Fed announced a second taper, leaving the QE program at $65 billion, down from $75 billion.
The 0.82 level works as support for RBNZ at the moment. For more levels, events and analysis, see the Kiwi dollar forecast.
