New Zealand dollar rises on Fed rate cut speculation
The New Zealand dollar (NZD) appreciated against the US dollar (USD) as soft labor market data and weaker-than-expected services activity in the US fueled speculation about potential Federal Reserve rate cuts later in the year. The USD slipped as markets reacted to these economic indicators, prompting a shift in market sentiment. Fed officials indicate a cautious stance on rate cuts despite positive inflation trends. The Reserve Bank of New Zealand (RBNZ) expected to maintain interest rate in upcoming decision.
Read more to find out what happened to NZD.
Disclaimer:
While the NZD has gained ground, it remains vulnerable to shifts in global risk sentiment and US economic developments, and as such would require good risk management as traders navigate the markets.
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