Forex
NZD Rebounds from Low as USD Strength Continues
The New Zealand Dollar (NZD) rebounded on Friday from its lowest level in over a week, but its upside remains limited due to the strength of the US Dollar (USD).
The NZD/USD pair traded around 0.5790, up 0.27% on the day, after falling to a one-and-a-half-week low.
The rally in the NZD was driven by strong New Zealand inflation data, which reinforced expectations of further Reserve Bank of New Zealand tightening.
However, geopolitical tensions and resilient US economic data continue to support the USD ahead of next week's Federal Open Market Committee (FOMC) policy meeting.