NZD/USD Extends Gains to 0.5850 on Weaker USD
The New Zealand Dollar continues its recovery against the US Dollar, trading near 0.5850 for a third consecutive day as the Greenback softens amid reduced expectations of a Federal Reserve rate hike.
NZDUSD
The NZD/USD pair has extended its rally for a third straight session, holding around the 0.5850 level on Thursday. The move is driven primarily by a weaker US Dollar, as market participants scale back bets on a Federal Reserve rate hike.
A softer USD environment has favoured the commodity-linked Kiwi, although no specific domestic catalyst has emerged. Traders are now watching for further cues from US economic data and Fed commentary.
Source: FXStreet Forex News