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RBNZ Hawkishness and NZDCAD
Watching the RBNZ commentary today; they're certainly sounding more hawkish than some anticipated, pushing the idea of further rate hikes. This is giving $NZDCAD a decent lift, currently trading around 0.81506, up quite a bit from its daily low. If this sentiment continues to build, especially relative to the BOC's more tempered outlook, there might be further upside traction on the cross.
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Agreed, the RBNZ rhetoric was surprisingly firm. Wonder if the market has fully priced in the potential for a 50bp hike next meeting or if there's still room for NZD to run on that expectation.