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Forex

NZD Holds Firm Ahead of Jackson Hole Amid Rate Cut Speculation

Guavy AI Editorial Team
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USD NZD
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The New Zealand Dollar (NZD) has maintained its value above 0.5950 against the US Dollar (USD), as traders await cues from the upcoming Jackson Hole Symposium.

The annual central bank gathering is a key event for currency markets, providing insights into US monetary policy and interest rate expectations.

Federal Reserve Chair Jerome Powell's remarks at the symposium are closely watched, particularly with regards to potential US rate cuts and their impact on the dollar's strength.

The market currently prices in a high probability of a US rate cut in September, according to CME FedWatch data, but the size of the cut remains uncertain.

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