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In intraday trading on Tuesday, the New Zealand dollar/US dollar was at 0.6168, a slight increase of 0.28%, mainly driven by the weakness of the US dollar.
Correspondingly, the U.S. dollar strengthened and Treasury yields also fell slightly before the release of the Fed meeting minutes. The minutes of the meeting will be released mid-day on Wednesday. The market is paying close attention to the minutes of the Federal Reserve meeting because they provide the Federal Reserve’s views on inflation and the need for potential policy adjustments. It is worth noting that the market currently predicts that the Federal Reserve will cut interest rates four times in 2024, totaling about 100 basis points, and will start cutting interest rates in June.
