NZD Slides Ahead of Fed Rate Decision Amid Higher US Yields
The New Zealand Dollar (NZD) is continuing its decline against the US Dollar (USD), with traders attributing the move to a broadly stronger greenback.
Higher US yields and Wednesday's expected Federal Reserve rate hike are driving the NZD/USD pair lower, trading near the 0.5760s.
New Zealand Q2 GDP data, due late on Wednesday, is also seen as a risk factor for the kiwi, with growth expected to slow sharply to 0.1% from 0.8%.