The New Zealand Dollar weakens after a 1.0% decline in the ANZ World Commodity Price Index for June.
NZD/USD retreated to 0.5690 in Asian trading on Monday, reversing two days of gains. The decline follows a 1.0% drop in the ANZ World Commodity Price Index for June, driven by easing Middle East tensions and lower oil prices.
The pair had previously climbed amid broader USD weakness, but the softer commodity print weighed on the New Zealand Dollar. June’s decline marks the first monthly drop since March, contrasting with a 1.3% rise in May.
No immediate market reaction was reported beyond the currency pair’s movement.