AUD Surges to July High vs NZD on Strong Aussie Data and RBNZ Decision

The Australian Dollar (AUD) surged to its highest level since July 8 against the New Zealand Dollar (NZD), reaching 1.2200, after strong economic data from Australia and a monetary policy decision by the Reserve Bank of New Zealand (RBNZ).

The RBNZ raised the Official Cash Rate (OCR) by 25 basis points to 2.75%, but the NZD weakened due to a lack of hawkish signals in the accompanying policy statement.

Australian GDP grew 0.4% in the second quarter, beating consensus estimates and supporting the case for further AUD/NZD gains.