Major currencies consolidate as market regroups ahead of US inflation measure
The New Zealand dollar rose after the Reserve Bank of New Zealand cut benchmark rates by 50 basis points to 4.25% while noting that inflation had declined to near the mid-point of its targeted range.
Trump's vows on Monday of big tariffs on Canada, Mexico and China, the United States' three largest trading partners, have left investors jittery, even if some of the reaction was tempered later in the U.S. day.
«Markets are likely to remain edgy as a second Trump administration brings back uncertainty about policy making in the U.S.,» said Carol Kong, currency strategist at Commonwealth Bank of Australia.
«This uncertainty can lead markets to 'sell first and ask questions later' which is a positive for the USD.»
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