Australian Dollar surges to July 8 high vs New Zealand Dollar after Aussie GDP, RBNZ
The AUD/NZD cross builds on the better-than-expected Australian data-inspired gains and rallies to the 1.2200 mark, or the highest since July 8, after the Reserve Bank of New Zealand (RBNZ) announced its policy decision.
The AUD/NZD currency pair reached its highest level since July 8, trading at 1.2200, after Australia's Gross Domestic Product (GDP) growth exceeded expectations. The Reserve Bank of New Zealand (RBNZ) increased its Official Cash Rate (OCR) by 25 basis points to 2.75% during its monetary policy meeting. The New Zealand Dollar (NZD) weakened due to the lack of fresh hawkish signals in the RBNZ's statement, contributing to the AUD/NZD surge.
Meanwhile, Australia's economic growth was higher than expected, with the GDP increasing by 0.4% in the second quarter of 2026. This positive data encouraged the Reserve Bank of Australia (RBA) to consider tightening monetary policy further, which also supported the AUD/NZD pair. Traders will closely watch the RBNZ's post-meeting press conference, particularly Governor Dr. Anna Breman's comments, as they could further influence the NZD's volatility and its overall trend.
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