NZ Dollar Holds Steady Near Two-Week Low Amid Global Economic Uncertainty

The New Zealand dollar held at its lowest level in two weeks, trading around $0.585 as investors remained cautious about the global economic outlook.

The US consumer inflation report was subdued, reducing the likelihood of a Federal Reserve rate hike next month. The data also led traders to trim their bets on rate increases following Friday's weak jobs report.

The NZ dollar drew support from expectations that the Reserve Bank of New Zealand will deliver another quarter-point rate increase next month, providing some stability for the currency.