New Zealand Dollar Stays Firm Near Multi-Month Highs

The New Zealand Dollar has been trading near multi-month highs against the US Dollar, with NZD/USD consolidating just south of the 0.6000 handle.

This stability comes despite a soft set of second-quarter retail sales figures released over the weekend, which showed a 0.5% decline on the quarter, falling short of market expectations and last period's reading.

The Reserve Bank of New Zealand (RBNZ) raised the Official Cash Rate (OCR) to 2.50% at its July meeting, citing inflation pressures from higher global oil prices that could persist longer.