New Zealand dollar escalates as PBOC injects more stimulus
April 20, 2015 1:05 am
The New Zealand dollar gained following the People’s Bank of China integrated more liquidity to Asia’s biggest economy.
Yesterday, China’s central bank reduced the reserve requirement ratio for all banks by 100 basis points, enabling them to reinvest or lend more money. PBOC made bigger cuts for specialist banks loaning in the agricultural or small business sector.
The kiwi climbed to 76.94 US cents from Friday’s 76.59 US cents, and 51.43 British pence from 51.28 British pence, and ¥91.38 from ¥91.10.
But the currency slid to 98.26 Australian cents from 98.38 Australian cents, and was slightly changed to 71.08 euro cents from 71.07 euro cents
The currency has been boosted by additional Chinese stimulus. “The RRR cut is expected to release 1.2 trillion yuan in liquidity to support demand,” said ANZ’s Sharon Zollner and Sam Tuck.
Traders will await the Consumers Price Index and the BNZ-BusinessNZ Performance of Services Index for March, both due today.
The material has been provided by InstaForex Company – www.instaforex.com
The New Zealand dollar gained following the People’s Bank of China integrated more liquidity to Asia’s biggest economy.
Yesterday, China’s central bank reduced the reserve requirement ratio for all banks by 100 basis points, enabling them to reinvest or lend more money. PBOC made bigger cuts for specialist banks loaning in the agricultural or small business sector.
The kiwi climbed to 76.94 US cents from Friday’s 76.59 US cents, and 51.43 British pence from 51.28 British pence, and ¥91.38 from ¥91.10.
But the currency slid to 98.26 Australian cents from 98.38 Australian cents, and was slightly changed to 71.08 euro cents from 71.07 euro cents
The currency has been boosted by additional Chinese stimulus. “The RRR cut is expected to release 1.2 trillion yuan in liquidity to support demand,” said ANZ’s Sharon Zollner and Sam Tuck.
Traders will await the Consumers Price Index and the BNZ-BusinessNZ Performance of Services Index for March, both due today.
The material has been provided by InstaForex Company – www.instaforex.com
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