Kiwi Falls to Ten-Week Low as US Dollar Gains Strength

The New Zealand dollar took a hit on Friday, slipping to around $0.571 as the US dollar continued to gain strength.

This sent the kiwi back near a ten-week low despite better-than-expected domestic data showing resilience in economic activity.

New Zealand's GDP growth in the second quarter beat estimates, and the country's trade deficit narrowed more than anticipated in August.

However, these positive developments were overshadowed by the Federal Reserve's rate hike and signal for further tightening ahead.