Forex: AUD/NZD reaches 2-month high after RBNZ

The New Zealand dollar weakened broadly and fell to its lowest level in 2 months against its neighbor the Aussie, after the RBNZ decided to keep its monetary policy unchanged but said it expects to keep the Official Cash Rate (OCR) unchanged through the end of the year.

AUD/NZD jumped over 100 pips after the announcement and hit a high of 1.2574, last seen Jan 22. At time of writing, AUD/NZD is trading around 1.2560, recording a 0.7% gain on the day.