NZD/USD marks an 11-month low, hovering around 0.5790 during the Asian session on Thursday. The pair could reach November’s low during the session. Th
NZD/USD weakens as investors ease expectations for a rate hike by the RBNZ. Geopolitical uncertainties weighon the New Zealand Dollar. Risk sentiment worsens on Israel's PM Netanyahu's statement about a ground assault in Gaza. The surge in US Treasury yields reinforces the US Dollar. e Kiwi Dollar grapples with pressure, a predicament exacerbated by the recent release of headline Consumer Price Index data.
By the press time, the 10-year Treasury note stood at 4.97%. However, the NZD/USD pair's losses might find some limitation amid the varied comments from US Federal Reserve officials in the previous days, concerning the trajectory of interest rates. Atlanta Fed President Raphael Bostic indicated that a rate cut before the middle of next year is improbable, and Fed Philadelphia President Patrick Harker voiced a preference for keeping interest rates unchanged.
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