New Zealand Dollar weakens under 0.5900 as US data and Iran worries lift greenback
NZD/USD slid to around 0.5870 in Asian trade on Tuesday, dragged by firm US PMI numbers and safe-haven demand amid uncertainty over US-Iran talks. Attention now turns to New Zealand’s upcoming employment release.
The kiwi dollar came under pressure during Asian hours, slipping below the 0.5900 handle. The move followed a stronger-than-expected US PMI print, which reinforced the dollar’s yield advantage, while geopolitical jitters around US-Iran negotiations spurred safe-haven flows into the greenback.
NZD/USD was last hovering near 0.5870, marking a fresh low for the session. Traders cited the combination of improved US data and risk-off sentiment as the main drag, with the pair unable to sustain any upside attempts.
Market attention now shifts to New Zealand’s quarterly employment report, due later. A softer labour market reading could add further downside pressure on the New Zealand dollar, while a positive surprise may offer only limited relief given the current dollar strength.
Source: FXStreet Forex News