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31 Dec 2014
AUD/NZD ends year with a 3% decline
FXStreet (Córdoba) - AUD/NZD dropped sharply for the second month in a row in December and posted a record low monthly close around 1.0450.
Over the year the pair rose during the second and the third quarter but peaked at 1.1300 and turned to the downside in the fourth quarter, falling to 1.0419 (Dec 30 low). From the level it had a year ago, lost 3.60%.
The divergence in monetary policy expectations pressure the pair to the downside. As the Reserve Bank of New Zealand mentioned that the next step would be toward a normalization, analysts expect a rate cut by the Reserve Bank of Australia during 2015.
Both currencies fell against the US dollar in 2014 weakened by the decline in commodities price.
Over the year the pair rose during the second and the third quarter but peaked at 1.1300 and turned to the downside in the fourth quarter, falling to 1.0419 (Dec 30 low). From the level it had a year ago, lost 3.60%.
The divergence in monetary policy expectations pressure the pair to the downside. As the Reserve Bank of New Zealand mentioned that the next step would be toward a normalization, analysts expect a rate cut by the Reserve Bank of Australia during 2015.
Both currencies fell against the US dollar in 2014 weakened by the decline in commodities price.