Dollar Down, but NZD Up as RBNZ Postpones Interest Rate Hikes By

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By Gina Lee – The dollar was down on Wednesday morning in Asia, while the New Zealand dollar (NZD) was up after the handed down its . The that tracks the greenback against a basket of other currencies inched down 0.08% to 93.073 by 11:51 PM ET (3:51 AM GMT). The pair inched up 0.05% to 109.62. The pair was up 0.23% to 0.7265 and the pair was up 0.28% to 0.6943. The pair inched down 0.03% to 6.4835 while the pair edged up 0.12% to 1.3756. RNBZ kept its interest rate unchanged at 0.25% earlier in the day as it handed down its policy decision. The central bank was forced to postpone its plans to hike interest rates as New Zealand went into lockdown following the first local COVID-19 infection in six months. “RBNZ was ready to pull the trigger, COVID-19 comes along 24 hours earlier and so they’ve just pulled back on that,” BNZ senior market strategist Jason Wong told Reuters. Investors are now pricing a 60% chance of a hike in October. "It depend
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