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New Zealand dollar is losing its shine as a “high-yielding” major currency, courtesy of dovish RBNZ expectations and the resulting drop in the bond yields.  

The yield on the benchmark 10-year government bond yield slumped to a record low of 2.11 percent soon before press time.  

New Zealand reported a weaker-than-expected employment numbers yesterday,  triggering speculation the Reserve Bank of New Zealand might sound more open to rate cuts at its policy meeting, scheduled for Feb. 13.