Forex
NZD Steadies Near Lows as RBNZ Hike Bets Build
The New Zealand Dollar (NZD) has been trading near its lows for three consecutive sessions, with Monday's price hovering around 0.5650.
This stability comes as markets continue to price an 80% chance of a hike in the Official Cash Rate (OCR) by the Reserve Bank of New Zealand (RBNZ) on October 28, up from roughly one-in-three after the September 2 increase.
The RBNZ's decision is set ten days before New Zealand votes in its general election on November 7. Markets are awaiting crucial data releases, including the third-quarter Consumer Price Index (CPI) on October 21 and US numbers on jobs and inflation.