NZD/USD Holds Gains Near 0.5855 After Soft US Inflation Data
The New Zealand Dollar traded higher against the US Dollar on Monday as softer-than-expected US inflation data reduced expectations of further Federal Reserve rate hikes.
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The NZD/USD pair held positive ground near 0.5855 during early European trading on Monday.
A softer US inflation print has led traders to scale back bets on imminent Fed rate hikes, weighing on the US Dollar and supporting the New Zealand Dollar.
The pair maintains its upward bias as markets reassess the Fed’s policy path, though further gains may depend on upcoming data releases.
Source: FXStreet Forex News