Money market data shows traders have erased bets on negative rates next year in both the US and New Zealand, as noted by Bloomberg. While the Bank of England is still expected to cut rates to support the economy, it is seen stopping at the zero lower bound. Investors were pretty much convinced earlier this year that the Federal Reserve and the Reserve Bank of New Zealand would push rates below zero. However, prospects of sub-zero rates have weakened with expectations for a coronavirus-vaccine-led global economic recovery next year. Besides, central banks have been reluctant to take the sub-zero route and have resorted to a “new conventional” mix of bond purchases and sector-specific aid programs. While the New Zealand dollar has benefitted from markets pricing out prospects of negative rates, the safe-haven dollar has struggled to find takers. The NZD/USD pair rose to a 32-month high of 0.7120 early this week. 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 EUR/USD stuck in familiar range, awaits US stimulus and Eurozone PMIs FX Street 2 years Money market data shows traders have erased bets on negative rates next year in both the US and New Zealand, as noted by Bloomberg. While the Bank of England is still expected to cut rates to support the economy, it is seen stopping at the zero lower bound. Investors were pretty much convinced earlier this year that the Federal Reserve and the Reserve Bank of New Zealand would push rates below zero. However, prospects of sub-zero rates have weakened with expectations for a coronavirus-vaccine-led global economic recovery next year. Besides, central banks have been reluctant to take the sub-zero route and… 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.
