NZD Falls Towards 0.5880 Amid Iran Tensions and Weaker US Economic Data

The New Zealand Dollar (NZD) has fallen to near 0.5880 against the US Dollar (USD), as tensions between the United States and Iran lifted demand for the greenback.

This decline came despite softer expectations of further US monetary tightening, following weaker July Nonfarm Payrolls and moderate inflation.

Markets now imply a 35% chance of a Federal Reserve rate rise at the next meeting, down from 47% a month earlier, with traders waiting for the release of the Federal Open Market Committee minutes on Wednesday.