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24 Feb 2015
NZD/USD: Strong rebound, Yellen testimony eyed
FXStreet (Bali) - The New Zealand Dollar continues to be the best performing currency, followed closely by the British Pound, with the former running a startling recovery from sub 0.75 levels up to 0.7545 day high, before seeking liquidity towards 0.7520 late in the North American session.
Jim Langlands, Founder at FXCharts, notes: "The Kiwi had a choppy 0.7468/0.7546 range and still holds on above 0.7500 although I suspect that today may be a bit quieter as traders await Yellen’s testimony."
In today's Asian calendar, the only event of note will be the RBNZ Inflation Expectation, which is expected "to provide little reaction ahead of Janet Yellen’s testimony, notes Jim. Fonterra is also rumored to release their 2015 payout figures, with upside potential building. According to Jim, "while no time is set for the release, more likely the figure will be released tomorrow, but is worth keeping an eye out for."
Jim Langlands, Founder at FXCharts, notes: "The Kiwi had a choppy 0.7468/0.7546 range and still holds on above 0.7500 although I suspect that today may be a bit quieter as traders await Yellen’s testimony."
In today's Asian calendar, the only event of note will be the RBNZ Inflation Expectation, which is expected "to provide little reaction ahead of Janet Yellen’s testimony, notes Jim. Fonterra is also rumored to release their 2015 payout figures, with upside potential building. According to Jim, "while no time is set for the release, more likely the figure will be released tomorrow, but is worth keeping an eye out for."