NZD/USD slumps on dovish RBNZ but key support levels still holding ...Middle East

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NZD/USD slumps on dovish RBNZ but key support levels still holding
In fact, the rates market is pricing in nearly two rate cuts for the remainder three meetings by the RBNZ for this year now. The first full rate cut is priced in for October, with odds of an August move also bumped up to ~60% currently. Traders are seeing ~46 bps of rate cuts by year-end. So, how did that weigh on the kiwi?NZD/USD was brought lower from 0.6128 to a low of 0.6075 on the decision earlier. In case you missed it:RBNZ leaves it cash rate on hold at 5.50%, as expectedNZD/USD drops after the RBNZ statement - hints of a closer rate cutThe pair has bounced back a little to around 0.6090 levels now but essentially, buyers are still holding on in the bigger picture.At the end of last m

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