NZD drops across the board as RBNZ boosts the asset purchase program. The central bank says negative rates and foreign QE are an option. AUD/NZD jumps to the highest level since October 2018. The offered tone around the New Zealand dollar strengthened, pushing the AUD/NZD cross to fresh 22-month highs above 1.09 after the Reserve Bank of New Zealand (RBNZ) boosted the large scale asset purchase program (LSAP) by NZD 100 billion. The markets were expecting the central bank to boost its asset purchase program to NZD 75 to 90 billion. Hence, it’s no surprise that Kiwi fell to fresh multi-month lows in a knee jerk reaction. And while the central bank kept the official cash rate (interest rate) unchanged at 0.25%, it left the doors open for a potential cut to negative territory in the future. Policymakers agreed that package of additional monetary instruments must remain in the active preparation, the official statement said, while adding that negative rates and purchases of foreign bonds remain an option. Looking forward, the RBNZ’s outright dovish stance is likely to keep the NZD on the defensive. The AUD/NZD cross is trading at 1.881 at press time, representing a 0.23% gain on the day, having put in a high of 1.0920 immediately following the rate decision. That was the highest level since October 2018. Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Shanghai Gas-VeChain partnership enters phase 2, VET/USD falls for third straight day FX Street 2 years NZD drops across the board as RBNZ boosts the asset purchase program. The central bank says negative rates and foreign QE are an option. AUD/NZD jumps to the highest level since October 2018. The offered tone around the New Zealand dollar strengthened, pushing the AUD/NZD cross to fresh 22-month highs above 1.09 after the Reserve Bank of New Zealand (RBNZ) boosted the large scale asset purchase program (LSAP) by NZD 100 billion. The markets were expecting the central bank to boost its asset purchase program to NZD 75 to 90 billion. Hence, it's no surprise that Kiwi fell to fresh… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
