NZD/USD slumps after RBNZ decision

FXstreet.com (Córdoba) - The NZD/USD slumped toward the lower side of this week's range after the Reserve Bank of New Zealand decided to leave the OCR unchanged at 2.5% at today's meeting.

However, the RBNZ said there is a need to return interest rates to "more-normal levels" and that the Bank expects to start this adjustment soon. The NZD/USD dropped more than 70 pips to 4-week low of 0.8187.

At time of writing, the NZD/USD is trading around 0.8190, recording a 0.8% loss on the day. The NZD also weakened against the yen, falling to a 7-week low of 83.60.