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New Zealand Dollar declined ignoring RBNZ first intervention

Discussion in 'Forex Daily News & Outlook' started by prav, Jun 12, 2007.

  1. prav

    prav Moderator
    Staff Member

    Apr 28, 2007
    Likes Received:
    The Dollar rallied to a 3 ? month high against the Swiss franc on Monday, with US 10-year Treasury yields over 5% and investors largely ignoring the New Zealand central bank's first market intervention in 22 years. The RBNZ intervention to curb the NZD came four days after the central bank surprised markets by raising its key interest rate to 8%, the highest benchmark rate in the industrialized world. With no major US economic data on Monday, dealers kept liquid currencies, other than the New Zealand Dollar, in narrow ranges, waiting for the may US retail sales report on Wednesday.


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