NZD/USD rises sharply on Wednesday and trades around 0.5930 at the time of writing, up 0.96% on the day. The New Zealand Dollar (NZD) benefits primarily from broad weakness in the US Dollar (USD), as the sharp decline in US Treasury yields reduces the appeal of the Greenback.
The US 10-year Treasury yield falls to 4.651% after reaching 4.712% earlier in the day. The move follows a surprise announcement from the United States (US) Department of the Treasury, which plans to double the size of some buyback operations aimed at supporting liquidity in longer-dated securities.
The US Treasury says the size of buybacks of nominal coupon securities in…
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