NZD Steady Amid USD Strength and Awaited Iran Ceasefire Deal
The New Zealand Dollar (NZD) has found some stability as the US Dollar (USD) holds strong ahead of the Jackson Hole Symposium. The pair is currently trading around 0.5940, little changed on the day.
This steadiness comes despite a risk-sensitive Kiwi that has clawed back from recent lows. A US-Iran ceasefire deal that would reopen the Strait of Hormuz has lifted broader sentiment and supported growth- and risk-sensitive currencies like the Kiwi.
However, confirmation of the deal is still awaited, keeping the mood in check. The Greenback has nudged higher ahead of Jackson Hole, and a firm US Initial Jobless Claims number or a hawkish steer from the symposium could revive Dollar demand and pressure NZD/USD.