Hawks help Kiwi spread its wings

The Reserve Bank of New Zealand keeps rates unchanged at 7.25% but Allan Bollard say “we are less confident that no further policy tightening will be required in this cycle”. The chart shown is the AUD/NZD plunging over the last five days from 1.1867 to 1.1365. The New Zealand Dollar also rallied against the United States Dollar and the Japanese Yen.