A 50-Point Rate Hike Has Not Saved NZD, CAD from a Sell-off

Today the central banks of Canada and New Zealand raised their key rates by 50 points at once. New Zealand was not expected to rise sharply, but that did not save the NZD from the ensuing sell-off. A heavy downturn followed a predictable initial surge of 0.5%. The NZDUSD lost 2% from its intraday peak, […]

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