Kiwi Holds Near Early June High as US Retail Sales Weigh on Greenback

The New Zealand Dollar is holding near its early June high against the US Dollar, trading in the mid-0.5900s at the time of writing. The pair has seen little change on the day, but the direction over the past two weeks is clear, driven largely by developments in the United States.

A soft US retail sales report has trimmed bets on a Federal Reserve rate hike next month, causing the Greenback to fall and allowing the Kiwi to extend its rebound. This shift has implications for traders and investors watching this key currency pair.