NZD/USD declines below 0.5660, on Fed speaking, ahead of US NFP – by christianborjon NZDUSD Majors Macroeconomics Fed RBNZ
US central bank policymakers continued with the higher interest rates-for-longer narrative for the fourth consecutive day.The NZD/USD plummeted as Wall Street’s entered its last hour of trading due to, as US jobs data was mixed, while Fed officials’ hawkish narrative persists, as stubbornly as high inflation impacting the US economy.
The Fed parade continued on Thursday. Fed Governor Lisa Cook expressed that inflation is “stubbornly and unacceptably high” and added that she supported the three 0.75% rate hikes, as front loading will accelerate the impact of the monetary policy. Earlier, the Minnesota Fed President Neil Kashkari expressed that the fed needs “more work to do” to temper inflation down while adding that a pause in hiking rates is “quite a ways away.” Kashkari commented that he’s not “comfortable saying that we are going to pause” unless they see compelling evidence that inflation is cooling.
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