Kiwi Dollar Climbs as Greenback Falters on Waller Comments

The New Zealand dollar rose to $0.589 on Friday, extending its gains from the previous session as the US dollar came under pressure following comments from Federal Reserve Governor Christopher Waller.

Waller stated he would support leaving interest rates unchanged if inflation pressures continued to ease, prompting investors to trim bets on a Fed rate hike later this month.

This shift in investor expectations weighed on the greenback, giving the kiwi dollar room to advance. However, despite its recent gains, the kiwi is down 0.5% this week and on track for a second straight weekly loss.