Kiwi Sinks Below 0.6 as NZD Weighed Down by Weak Retail Sales

The New Zealand Dollar (NZD) has weakened against the US Dollar (USD) after the release of disappointing economic data. On Monday, the NZD/USD pair dropped to around 0.5970 during the early Asian session.

The weaker Retail Sales figure for Q2 2026 was a key factor in the decline. The data showed a 0.5% quarterly decline, worse than the market's expectation of a 0.1% drop. This news has created headwinds for the NZD/USD pair.

Ongoing tensions between the US and Iran have also contributed to the Greenback's strength. Reuters reported that Iran's Foreign Minister Abbas Araghchi dismissed the threat of new economic sanctions as 'desperate', but investors remain cautious about the potential impact on global markets.