NZD Steadies Against USD as Jackson Hole Looms
The New Zealand Dollar (NZD) has steadied against the US Dollar (USD), trading around 0.5940 on Tuesday after a strong recovery from recent lows.
A firm USD ahead of the Jackson Hole Symposium is capping gains for now, while reports of a US-Iran ceasefire have lifted broader sentiment and drawn support for growth- and risk-sensitive currencies like the Kiwi.
The Greenback has nudged higher ahead of the symposium, with US Initial Jobless Claims expected to tick up to around 208K. A firm claims number or a hawkish steer from Jackson Hole could revive Dollar demand and pressure NZD/USD.