NZD Surges to Near 0.5900 Ahead of US NFP Data

The New Zealand Dollar (NZD) has gained momentum, nearing the 0.5900 level against the US Dollar (USD), as traders await the release of the US August employment report on Friday.

This move comes after Federal Reserve Governor Christopher Waller's comments that he leans towards keeping interest rates steady at the Fed's September meeting, provided there are no surprises from upcoming inflation data.

Traders have trimmed their bets on a US rate hike at this month's meeting, weighing on the Greenback. The CME's FedWatch tool now shows nearly 50.2% odds of a quarter-point hike in September, down from 63.2% on Wednesday.