Forex
NZD Slips on US Inflation Hopes and RBNZ Rate Bets
The New Zealand dollar has slipped to around $0.587 as the US dollar edged higher.
This comes as investors await US inflation data for fresh clues on the Federal Reserve's interest-rate path.
A hotter-than-expected CPI reading could reinforce expectations for tighter US monetary policy, boosting the greenback.
The domestic market is set for a rate increase from the Reserve Bank of New Zealand in September, following the central bank's signal that further tightening may be needed to remove monetary stimulus and keep inflation under control.