NZD/USD slipped below the 0.64 mark. Economists at ANZ Bank expect a degree of treading water ahead of US Consumer Price Index (CPI) data.

It makes sense to brace for volatility

“Today is likely to see similar whippy price action ahead of US CPI, which is the first big event of the week. This will be the final data point ahead of Thursday’s Fed meeting, which we think will be hawkish and arguably poses the greatest risk to the Kiwi (in terms of its potential to drive an upside correction in the USD DXY).” 

“We think it makes sense to brace for volatility.”

See – US CPI Preview: Forecasts from 10 major banks, inflation appears to have peaked