NZ Dollar Surges Ahead of Expected RBNZ Rate Hike

The New Zealand dollar strengthened against other major currencies in the European session on Friday, as traders continue to price in a Reserve Bank of New Zealand (RBNZ) rate hike for next month.

This comes as the RBNZ has consistently emphasized the need to reduce some of its policy support in order to maintain market expectations for another rate increase.

As a result, the NZD gained against several major currencies, including the USD and EUR.