NZD/USD ADVANCES AHEAD OF FOMC MINUTES, USD WEAK
- The NZD/USD trades at 0.6168 with a 0.28% gain during Tuesday's session.
- Markets await the FOMC minutes from January’s meeting.
In Tuesday's session, the NZD/USD was viewed at 0.6168, marking a modest gain of 0.28% mainly driven by a weak US Dollar.
In line with that, the US Dollar's strength has slightly declined as well as Treasury yields before the release of the Federal Open Market Committee (FOMC) minutes. These minutes, set for release in Wednesday’s session, hold market attention as they provide insights into the central bank's perspective on inflation and the potential need for policy adjustments. It's noteworthy that markets currently predict around four rate cuts in 2024, totaling to an estimated 100bps, set to start from June.
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