RBNZ's governor Adrian Orr is crossing the wires saying that they are aware of asset price inflation and are needing to operate with a medium-term focus.
Orr states that they are also aware of limits of monetary policy and that the RBNZ has plenty of room left in its QE program.
Orr explained that they would prefer to deal with inflation than battle deflation.
The kiwi has been testing the 0.66 figure following the statements in a risk-off environment and is in synch with the prior analysis:
Now bears need to see the support line officially broken with a re-test and subsequent continuation of the downside.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.