RBNZ: Aware and monitoring current market developments
|The Reserve Bank of New Zealand is commenting saying that it is aware of the current market developments, yet these are not unanticipated or unusual.
Key notes
- In close contact with treasury, other market participants.
- Outlined a number of liquidity tools on Monday.
NZD/USD action
the bird has been weighed heavily as part of the dollar bloc currencies and commodity-FX. "It is abundantly clear that this is a USD story, with the USD DXY rallying sharply to a 3 year high as the ‘risk off’ tone bites, and NZD/AUD breaking parity," analysts at ANZ explained.
"Will likely remain under pressure, COVID-19 is a global shock of an unprecedented magnitude in peacetime, and NZ depends on global trade and tourism. Being a food exporter should limit downside."
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