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U.S. President Biden nominated Powell for re-election as Fed Chairman earlier this week, and another candidate, Brainard, was appointed as Fed Vice Chairman. This news boosted market expectations for the Fed to raise interest rates next year, and by then, the Fed will also end its bond purchase program.
On Tuesday afternoon, the short-term gains of the New Zealand dollar against the US dollar expanded to 30 points. Earlier, the Reserve Bank of New Zealand Assistant Chairman Hawkesby said that the Reserve Bank of New Zealand had considered raising interest rates by 50 basis points.
Previously, the Bank of England kept sending the market the news that it was about to raise interest rates. However, at the central bank's interest rate meeting in early November, it unexpectedly announced that the interest rate would remain unchanged. This caused chaos in the market and the market began to reduce its trust in the Bank of England.
