NZ Dollar Slumps Amid Global Market Volatility

The New Zealand dollar experienced a decline against other major currencies during the Asian session on Tuesday. The move came as European stocks traded lower, despite potential gains for London's FTSE 100 due to rising oil prices.

Concerns over diplomatic efforts to reopen the Strait of Hormuz, a crucial energy supply route, weighed on market sentiment. Meanwhile, U.S. stock futures dipped ahead of retail earnings reports from Walmart, Target, and Home Depot this week.