The Currency analytics
By Maheen Hernandez
The Kiwi dollar dropped hard. After climbing to 0.6550 against the greenback during Asian hours on February 23, the NZD/USD pair basically gave up all its gains and slumped back…
Traders didn't see it coming. The US dollar got hammered in ways that pretty much broke every textbook rule about how currencies should behave when the Fed starts talking tough…
Mike Johnson over at Forex Solutions put it best when he said, "The US dollar's reaction was unexpected. It's not behaving as traditional models predict.
The data coming out of America isn't helping either. Inflation numbers came in mixed, growth signals looked murky, and analysts who thought they had a handle on where things were…
Sarah Kim, a financial analyst based in Wellington, thinks the Kiwi's moves are pretty much just following whatever the big currencies do these days.
The Reserve Bank of New Zealand's next meeting could change everything for the NZD/USD pair.
Geopolitical stuff is making things worse too. Commodity prices are bouncing around like crazy, and since New Zealand exports a ton of raw materials, that's hitting the currency…
Some analysts think there's still hope for the Kiwi to bounce back, but they're not exactly confident about it.
JPMorgan Chase saw forex trading volumes spike on February 23 as the currency chaos unfolded.
The Bank of Japan threw another wrench into things when Governor Haruhiko Kuroda doubled down on keeping rates super low.
Christine Lagarde and the ECB are supposed to make some kind of statement next week, and traders are already positioning for whatever she might say.
Over in Sydney, the Aussie dollar held up better than the Kiwi, staying near 0.7200 against the greenback.
China's central bank reported that foreign exchange reserves went up, which helped stabilize some of the Asian currencies.
Barclays in London said demand for hedging instruments went through the roof as clients tried to protect themselves from more currency swings.
Deutsche Bank's Frankfurt team put out a note warning that the euro's volatility against the dollar could spread to other pairs, including the NZD/USD.