AUD/NZD Hits Multi-Week High on Strong Aussie Data and Muted RBNZ Response

The AUD/NZD currency pair has reached its strongest level since July 8, touching 1.2200 as the Australian Dollar gains strength against the New Zealand Dollar.

The Reserve Bank of New Zealand's (RBNZ) decision to raise the Official Cash Rate by 25 basis points to 2.75% was expected, but the accompanying policy statement lacked fresh hawkish signals, causing the NZD to soften and amplifying gains in AUD/NZD.

Australia's GDP data for Q2 2026 showed a 0.4% expansion, exceeding both Q1's 0.3% growth and consensus expectations, which reinforces speculation that the Reserve Bank of Australia (RBA) may contemplate further tightening.