International News
Euro capitalized on a quiet trading day for the dollar, posting a gain of nearly 1% on the day’s opening price 1.0892, recovering from Tuesday’s lows of 1.0829 to close at 1.0997 the high of the day. A busy macroeconomic calendar today ahead for both currencies, economists will be looking to see if the euro can sustain yesterday’s push to close above the 1.1000 mark. Today the pair opened at 1.1015
The Reserve Bank of New Zealand has cut interest rates for the second consecutive month and says more easing is increasingly likely. Citing a softer economic outlook and low inflation the Central bank cut the rate to 3%. NZD immediately strengthened on the news, pushing the sterling back from 2.2811 to 2.2451 in the minutes following the announcement. Today the pair open at 2.2571 [...]
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