Post #15595

Kiwi Slips Toward Two-Week Lows as RBNZ Pushes Back on Hike Bets The kiwi slipped toward 0.576, the 38.2% retracement level for bulls, hovering near two-week lows as markets reassessed the RBNZ outlook. If price pulls back into the 50–61.8% retracement zone, the kiwi could find support there and attract dip buyers. The central bank has made it clear the easing cycle likely ended last year after 225bps of cuts, while firmly pushing back on near-term hike expectations. With Governor Breman signaling rates are likely on hold for an extended period, market pricing for a hike before September has faded, with October now the more likely window. Broader risk-off sentiment tied to renewed geopolitical tensions has added extra pressure, leaving NZD without a clear policy or risk tailwind. NZD/USD is also being weighed by renewed USD strength, as the dollar finds support amid broader risk uncertainty. - Alan