Forex: Kiwi steadily bid on RBNZ governor speech

FXstreet.com (Barcelona) - The New Zealand Dollar is on the rise across the G10 board, with RBNZ GovernorWheeler crosing the wires at the moment. He said aims to avoid rushing a decision on rates that may need to be revised quickly thereafter.

One kicker that saw inflows on the Kiwi was when he told reporters that a high New Zealand external debt means it requires higher interest rate to have the same inflation outcome. He also said New Zealand has the potential to improve its productivity and competitiveness. He targets a return to fiscal surplus.

More quotes coming in: "Price stability, and expectations that future inflation will be both low and stable, contribute to economic growth in several ways."

NZD/USD is at 0.8420, having briefly taken out Thursday's 31 Jan high at 0.8420. On the downside, 0.84 may see buyers camped, as level aligns with Jan 25, 30 swing highs also the importance of being a round number. On the upside, 0.8450 up to 0.8475 remains a very bumpy road ahead, with three topside failures since early December.

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