The New Zealand Dollar pares gains against the USD as traders await RBNZ signals despite softer US inflation figures.
NZD/USD trades at 0.5650, up 0.05% on Friday, as the New Zealand Dollar stabilizes following the latest US inflation data. The pair remains under pressure despite a weaker US Dollar, as expectations of a Reserve Bank of New Zealand hold cap further upside.
Prior to the release, NZD/USD hovered near 0.5640, with traders balancing US economic data against RBNZ policy expectations. The central bank’s cautious stance has limited the currency’s gains, even as inflation concerns ease in the US.
Markets now await further cues from RBNZ commentary, with near-term support seen at 0.5600 and resistance near 0.5700.