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NZD/USD reclaims 0.62 handle despite RBNZ hold

Earlier this morning the Reserve Bank of New Zealand (RBNZ) did as was expected and kept their 5.5% benchmark rate unchanged. However, the commentary from the RBNZ accompanying that decision was perhaps more hawkish than some had expected and that helped to push the NZD higher, despite the unchanged benchmark rate. Of course the wider dollar coming under further pressure today played a major role in the NZD/USD reclaiming the 0.62 handle for the first time since the very beginning of August. It has now backed off from an earlier high at 0.6208. The NZD/USD had closed in the US last night at 0.6136. It is currently trading at 0.6188

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