Forex
NZD/USD Hits Fresh High as Softer USD and RBNZ Hike Bets Boost Pair
The New Zealand Dollar continued its upward trend against the US Dollar in Friday's Asian trade, reaching a fresh high since early June at around 0.5965-0.5970.
This move is attributed to a softer US Dollar as markets scaled back expectations of an immediate Federal Reserve rate rise, and bets on another Reserve Bank of New Zealand hike supporting the New Zealand Dollar.
The pair's technicals have also held firm, with NZD/USD trading above the 200-period Exponential Moving Average at 0.5851, reinforcing a bullish near-term bias.