New Zealand's Kiwi gets most of Wednesday back without earning it
The New Zealand Dollar trades just under 0.5900 into the New York afternoon, up roughly half a percent, after a session that retraced most of Wednesday‘s decision-day slide without a single New Zealand input. NZD/USD climbed from an Asian low that held above Wednesday’s 0.5800 trough to a high a handful of pips short of 0.5900, reclaiming both the 200-day and the 50-day Exponential Moving Average (EMA) on the way, the two of which sit within twenty pips of each other near 0.5850. The recovery has the same author as every other majors rally on Thursday, which is a Dollar being sold from London onward. The Dollar gave back what Wellington took A Fed governor‘s lean toward a September hold cut hike odds to around 50% from above 60%, the Yen’s surge to a one-month high pulled Treasury yields lower before he spoke, and the Dollar Index slipped beneath 99.00 to its weakest since late August. The Kiwi rode that from midnight GMT to 16:00 GMT in something close to a straight line. Nothing about the Reserve Bank of New Zealand (RBNZ) changed in the interval: the Official Cash Rate (OCR) is 2.75% after Wednesday‘s quarter point, the next decision is October









