NZ, Aussie dlrs have busy day, Fed minutes loom

Published by
Reuters UK

By Alun John HONG KONG (Reuters) – The Australian and New Zealand dollars were volatile in Asia on Wednesday, before ending up back near where they started, providing some excitement ahead of the release of minutes of the U.S. Federal Reserve’s latest meeting later in the day. The kiwi jumped to as high as $0.6383 after the Reserve Bank of New Zealand hiked rates by an expected 50 basis points (bps) and pointed to the need to bring forward the timing of future rate increases. The currency then pared its gains and was last 0.28% higher at $0.6361. “It (the RBNZ’s remarks)was marginally on the h…

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