The New Zealand dollar performed best in Asian currencies during this morning's session after the Bank of New Zealand's Reserve Chairman said the bank would do whatever it takes to support the domestic economy.It indicates that the bank will monitor the effects of the unexpected rate cut on August 7, and if all goes well, we may see further declines in interest rates in the near future.
The Bank of New Zealand chairman said that the Bank of New Zealand will wait until November and will cut interest rates again if necessary.
The kiwi rose against the US dollar and the Japanese yen. The NZD / USD rose 0.45% to 0.6393. Also, the NZD / JPY rose 0.51% to 68.111.