Crypto
NZD/USD Pair Pressured by Stronger US Dollar Amid Rate Hike Expectations
The NZD/USD pair is trading in negative territory near 0.5875 during early European trading hours on Monday, pressured by a stronger US Dollar.
Traders have increased their bets on a US Federal Reserve rate hike in the September policy meeting following stronger-than-expected US jobs data.
The US Bureau of Labor Statistics reported that US Nonfarm Payrolls climbed by 162K in August, exceeding market consensus of 56K.
The Reserve Bank of New Zealand (RBNZ) raised its Official Cash Rate (OCR) by 25 basis points to 2.75% last week, with Governor Anna Breman stating it's likely there will be a further increase.