Today's Focus: New Zealand Federal Reserve Monetary Policy!

WikiFX News (24 June)-At 2:00 GMT today, the Reserve Bank of New Zealand announced its interest rate decision. Since New Zealand has been leading a new round of global easing, its policy will also serve as a key global indicator.

Previously, the market generally predicted that RBNZ will keep the key interest rate unchanged at 0.25%, but may further reduce interest rate to zero next year, or even launch a negative interest rate. At the same time, the Reserve Bank of New Zealand is expected to continue to implement a quantitative easing plan of 60 billion New Zealand dollars (39 billion US dollars) to stimulate the economy.

After the Federal Reserve Bank of New Zealand announced its interest rate decision, the NZD would be the focus. The renewed risk appetite has boosted the NZD, among other cycle-sensitive currencies.

NZD/JPY is currently in the price range between key support of 67.766 and double resistance of 69.897 and 70.030.

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