The NZD/USD pair faces an intense sell-off and slides below the round-level support of 0.6100 in Wednesday’s North American session. The Kiwi pair plunges as the Reserve Bank of New Zealand (RBNZ) has cut its Official Cash Rate (OCR) by 50 basis points (bps) to 4.75%.

The NZD/USD pair has dropped to a seven-week low, touching 0.6091, as the sell-off that started on 1 October continues to intensify. The New Zealand dollar's weakness is largely attributed to the Reserve Bank of New Zealand's (RBNZ) recent decisions to lower interest rates in response to decreasing inflation pressures.

NZD/JPY declined on Wednesday after RBNZs stepped up policy easing with a half-point rate cut. The Reserve Bank of New Zealand wrapped up its latest policy meeting by cutting the official cash rate by 50 basis

The RBNZ is widely expected to lower the Official Cash Rate (OCR) by 50 basis points (bps) from 5.25% to 4.75% following its October monetary policy meeting. The central bank delivered a surprise 25 bps rate cut back in August.

NZDUSD plunged significantly after the RBNZ’s decision to cut interest rates by 50 bps. The pair remained closed to the 0.6100 round number and is holding near the 200-day simple moving average (SMA),

New Zealand’s central bank will cut interest rates by half a percentage point at each of its two remaining policy meetings this year as risks mount of inflation undershooting its 2% target, economists said.

The NZD/USD exchange rate continued its downward momentum after the Reserve Bank of New Zealand (RBNZ) slashed interest rates by 50 basis points. It fell to the important support at 0.6100, much lower than the year-to-date high of 0.

Markets are largely expecting the RBNZ to quicken the pace of rate cut to 50bp each at the remaining 2 MPCs for the year and another 100bp cut cumulatively for 1H 2025. NZIER’s quarterly survey of business opinions says that only a net 3 percent of firms were able to raise prices to pass on costs,