The RBNZ rate cutting to place CAD the highest interest rates of major currencies after the USD and this result the changes on the interest rate differential structures. As a result, all prices are adjusted to the new interest rate differential structures and lead by CAD, and or CAD will continue to be stronger than NZD, AUD, GBP, EUR, JPY and CHF until they reach their average traded weighted rates (USDCAD estimated at 1.3600/50).
However, the Canadian currency band is indicating for CADJPY and CADCHF will be pressured to match the USDCAD at 1.3600/50 and such adjustment will be made in lower rate or longer time. Large price adjustment to be made on NZDCAD, AUDCAD, GBPCAD and EURCAD and the price will continue to be zig zag but at narrower ranges until their average traded weighted rates to be reached.
However, the Canadian currency band is indicating for CADJPY and CADCHF will be pressured to match the USDCAD at 1.3600/50 and such adjustment will be made in lower rate or longer time. Large price adjustment to be made on NZDCAD, AUDCAD, GBPCAD and EURCAD and the price will continue to be zig zag but at narrower ranges until their average traded weighted rates to be reached.