NZD/USD Price Forecast: Trades flat near 0.5950

  • The NZD/USD pair gives up a majority of its initial gains and flattens around 0.5950 during North American trading hours on Wednesday. Earlier in the day, the Kiwi pair attracted bids after the Reserve Bank of New Zealand (RBNZ) reduced its Official Cash Rate (OCR) by 25 basis points (bps) to 3.25%, as expected.