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The Australian and New Zealand dollars held firm on Tuesday as strength in global commodity prices offset unease over Russia's incursion into eastern Ukraine. Markets expected the Reserve Bank of New Zealand to raise rates by a quarter point to 1.0% on Wednesday, with about a one-in-three chance of a half-point move.
Higher commodity prices support commodity-currency demand and reflect rising energy and input costs for feed buyers, while RBNZ tightening raises borrowing costs for regional livestock operations.
brecorder.comReutersFeb 22, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
