NZD/USD Slips as Political Uncertainty Overshadows US Inflation
NZD/USD trades around 0.5865, down 0.25% on the day, with New Zealand political uncertainty outweighing a limited FX reaction to US inflation data.
NZDUSD
The New Zealand dollar is trading under pressure against the US dollar on Wednesday, with NZD/USD near 0.5865 and down about 0.25% on the day.
Political uncertainty in New Zealand is being highlighted as the main weight on the currency, overshadowing the latest US inflation release. The inflation data triggered only a limited reaction across foreign exchange markets.
The pair remains on the defensive, with the kiwi side appearing to drive the move rather than a broad repricing of the US dollar.
Source: FXStreet Forex News