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Forex

NZD/USD Slides Under Sustained Selling Pressure

Guavy AI Editorial Team
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USD NZD
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The New Zealand Dollar (NZD) has been under sustained selling pressure against the US Dollar (USD), trading near $0.5697 as of now.

This is due to the Reserve Bank of New Zealand's cautious stance on interest rate hikes, with an expected ceiling near 3%.

The central bank's restrained policy outlook has lowered the appeal of the NZD against the USD, despite stronger-than-forecast economic growth in New Zealand.

Techncial indicators also show weak momentum and a high probability of further downside toward $0.5669 over the next two to three days.

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