NZD/USD Dips on Middle East Tensions, Awaits NZ Food Inflation Data
NZD/USD fell to around 0.5840 during Asian hours on Thursday, reversing two days of gains, as escalating Middle East conflict spurred risk aversion. Traders now eye Friday's New Zealand June food inflation data, which follows a sharp acceleration.
The New Zealand Dollar edged lower against the US Dollar on Thursday, with NZD/USD trading near 0.5840 in Asian hours, snapping a two-day winning streak. The move came as heightened Middle East tensions pushed investors toward safe-haven assets.
Market participants are adopting a cautious stance ahead of New Zealand’s June food inflation figures due on Friday. The data follows a notable acceleration in the previous month’s reading, raising the stakes for the Reserve Bank of New Zealand’s policy outlook.
Source: FXStreet Forex News