0054 GMT [Dow Jones] NZD/USD remains under pressure at 0.8346 after an early morning tumble from 0.8397 to 0.8336 against a backdrop of some unconfirmed speculation that the Reserve Bank of New Zealand may have intervened in the market. ANZ Senior FX Strategist Sam Tuck says there is no concrete evidence the central bank was in the market but "the move from 0.8390 down to sub 0.8350 was driven by volumes that were abnormal, compared to what we would expect to see on Monday at that time." Tuck says he will be watching the RBNZ twitter feed and media page closely to see if there is any confirmation. "Given the RBNZ put the market on-notice at the July OCR, this isn't a rumour you can just ignore." The Reserve Bank declined to comment. (rebecca.howard@wsj.com; Twitter: @FarroHoward)
(END) Dow Jones Newswires
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August 24, 2014 20:54 ET (00:54 GMT)
0 Response to "NZD/USD Under Pressure, No Confirmation RBNZ Being in Market"
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