During Wednesday’s trading session, from 1:00 until 2:00 GMT, the New Zealand Dollar depreciated against the US Dollar by 1.81% It was a 108 pip move on the currency exchange rate.
The reason for the drop was the signal from the Reserve Bank of New Zealand of monetary policy easing, as the Bank decided to keep the rate unchanged.
As for the near future, it is likely that bullish traders will try to regain their lost potion. Meanwhile, the currency pair breached the upper boundary of a flag formation pattern at 0.6811.
