NZD/USD Falls as Rising US Treasury Yields Shift Sentiment
The New Zealand Dollar (NZD) has continued its downward trend against the US Dollar (USD), with traders attributing the decline to rising US Treasury yields. The 10-year US Treasury yield hit a high not seen since 2023, supporting the Greenback and putting pressure on the NZD/USD pair.
The current price of NZD/USD is $0.58, down by 0.00422 or 0.72% for the session. The rising US Treasury yields have shifted sentiment in favor of the USD, leading to losses in the NZD against the Greenback.
Technical analysis suggests that the selling pressure on NZD/USD is persistent, with prices remaining below their major moving averages. The Relative Strength Index (RSI) indicates selling at 40.38, while the Commodity Channel Index (CCI) appears oversold at -111.73.