The New Zealand Dollar falls to 0.5660 against the US Dollar amid Middle East risks and robust US economic data.
NZD/USD declined for a sixth straight session, trading near 0.5660 in Asian hours as the US Dollar advanced. Geopolitical uncertainty, including mixed signals on US-Iran diplomacy and Iran’s warnings over the Strait of Hormuz, bolstered demand for the safe-haven USD.
US economic data reinforced the Dollar’s strength, with June’s S&P Global Composite PMI rising to 52.2 from May’s 51.5. Manufacturing output surged to 55.7, exceeding forecasts of 54.8 and signaling strong business activity.
Separately, US-mediated talks between Israel and Lebanon aimed at easing tensions with Hezbollah added to the complex risk backdrop. The combination of geopolitical risks and solid US data kept the USD supported.