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Market Update: New Zealand Dollar Trades Near 10-Week Lows
The New Zealand Dollar added 0.0011 points or 0.15% to 0.71296 on Wednesday, rebounding from 10-week lows touched in the previous session as the Federal Reserve kicked off its two-day policy meeting. While the US central bank is not expected to make any policy moves, it may signal that its beginning to think about easing its bond-buying policy. Local 10-year bond yields were at 1.669% while US 10-year rates were at 3-month lows of 1.496%. Among local data, food prices increased 1.8% year-on-year in May from 0.7% in the previous month, the highest reading since May of 2019. [/s2If]
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