The NZD/USD opens 0.8220 this morning after a relatively quiet night ahead of this morning’s anti-climatic FOMC meeting.
The key point from the meeting was US expectations for their unemployment rate to now get down to 6.5% by 2015, whereas mid-2014 was previously targeted - suggesting that stimulus will be required for a longer period.
Cyprus parliament has rejected the bailout solution that penalised depositors, and markets have been abuzz with the suggestion that Russian influences in the country are weighing heavily on the political outcome.
Stock markets currently: Dow Jones +0.41%, S&P +0.72 %, FTSE -0.13 %.
The NZD opens the crosses - 0.7930 AUD, 0.6355 EUR, 0.5445 GBP, 78.95 JPY, 0.8435 CAD.
NZ GDP this morning at 10.45am – market expectation is for +0.9%.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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