The New Zealand dollar weakens for a seventh session, trading near multi-month lows as the US dollar strengthens ahead of key inflation data.
The NZD/USD pair fell for a seventh consecutive day, trading near 0.5640 as the US dollar maintained its bullish momentum. Spot prices hovered close to their lowest level since November 25, reflecting persistent selling pressure.
The pair’s decline follows a broader trend of USD strength, with traders awaiting the release of US Personal Consumption Expenditures (PCE) data, a key inflation indicator. The previous session saw the NZD/USD hit its lowest point in nearly eight months, underscoring the currency’s vulnerability.
Market focus remains on the US economic calendar, with the PCE report expected to influence Federal Reserve policy expectations and further USD movements.