NZD/USD down -0.44% on the day with more from Wheeler

Currently, NZD/USD is trading at 0.7226, down -0.44% on the day, having posted a daily high at 0.7284 and low at 0.7226.

RBNZ's Wheeler: Cash rate likely to stay low

Following more comments Reserve Bank of New Zealand's Governo,r Wheeler, who is speaking again, this time at a parliamentary select committee. His comments were neutral at the start of the shift in the presser following the RBNZ's decision to hold rates while assessing, or rather, waiting for future developments while concerned about the US's protectionist ideologies and what that means for trade around the world, and of course, NZ. he repeated himself just recently, "Cash rate likely to stay low, Market got ahead of itself on OCR pricing." On the bird, he has been jawboning that and said a 7% retracement would be beneficial to export and aggregate growth. 

RBNZ reviewed:"Overall, we agree with the spirit of the Statement" - ANZ

NZD/USD levels

A break of the 0.72 handle has the 200 dma at 0.7163 with the 22nd Jan lows at 0.7169 where the bird rallied in a continuation of the 22nd Dec low's reversal at 0.6860. To the upside, 0.7320 guards 0.7374 recent highs with scope to 0.7500 in the medium term.