NZ Dollar Higher, Waiting for Fed & RBNZ Meetings

The New Zealand dollar trades above the opening level currently, waiting for monetary policy meetings of the Federal Reserve and the Reserve Bank of New Zealand that may determine trends for the currency both on short and longer terms.

The Fed will conduct its meeting at 19:00 GMT while the RBNZ gathering is scheduled at 20:00 GMT. Experts do not expect changes from either of the central banks, but traders will watch statements of the banks carefully, trying to decipher from them policy makers’ plans for future actions. The NZ dollar had dipped earlier during the trading session but has bounced later and is trading above the opening now.

NZD/USD was down from the open of 0.6497 to 0.6471 intraday but rebounded to 0.6521 as of 14:02 GMT today. NZD/JPY traded at 77.19 following the earlier drop from 76.93 to 77.16.

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