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NZD Tumbles to Near 0.5950 Amid Fed Rate Hike Bets

Guavy AI Editorial Team
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The New Zealand Dollar (NZD) has declined to near 0.5950 against the US Dollar (USD), as US inflation data lifted expectations of a Federal Reserve rate hike.

The US July Personal Consumption Expenditures (PCE) Price Index rose 3.7% in the 12 months through July, with core PCE inflation holding steady at 3.3% YoY.

This has kept alive market expectations for a Fed rate hike by year-end, though Chairman Kevin Warsh's upcoming speech at Jackson Hole will be closely watched.

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