The dollar rebounded amid rising crude oil prices and U.S. Treasury Secretary Bessent’s reaffirmation of a strong-dollar policy, with hints of expanded long-term bond buybacks; the exchange rate moved from 158.20 yen to 159.18 yen.
[London Market Overview] In the London foreign exchange market on the 20th, the USD/JPY pair showed resistance to further declines. Dollar buying, driven by a rebound from the previous day's sharp drop, subsided, pushing the rate down from JPY 158.53 to JPY 158.20. However, the pair subsequently edged higher in response to rising crude oil prices. The EUR/USD pair strengthened amid dollar selling, extending its gains from USD 1.1688 to USD 1.1709. The EUR/JPY rose in tandem with USD/JPY, climbing from JPY 185.20 to JPY 185.46, though upward momentum appeared to face some resistance thereafter.
New Zealand's Total New Lending Rises in February
New Zealand's total new lending increased to NZ$11.05 billion in February from NZ$10.95 billion in January, according to data from the Reserve Bank of New Zealand released on Thursday.
New Zealand Central Bank Now Expected to Hike Rate in September or Earlier, Westpac Says
New Zealand's central bank is now expected to raise its official cash rate by 25 basis points in September, Westpac said in a Wednesday report.
New Zealand Central Bank to Grapple With Diversity of Views on Monetary Policy, Westpac Says
The New Zealand central bank will almost certainly hold its official cash rate steady at 2.25% next week, but going forward, there will likely be a diversity of views on its board about what the best monetary policy response is to the Middle East conflict, Westpac said in a Thursday report.