New Zealand dollar stabilizes against the US dollar in Asian trading, market reacts positively to the Fed interest rate cut cycle

The September 23 data from Golden Ten indicates that the New Zealand dollar traded steadily against the US dollar during the Asian session, supported by the risk aversion sentiment driven by the pump in most regional stock markets. Four members of CBA’s global economic and market research team stated in a research report that in a low volatility and high risk appetite environment, the US dollar may decline. They added that the Fed has joined other central banks in beginning a rate-cutting cycle, and speeches by Fed Chair Powell and some other officials are unlikely to prevent a strong positive market reaction to the substantial rate cuts by the Fed.