NZD/USD extends its losses on the second consecutive day, trading around 0.5910 during the Asian session on Tuesday. The US Dollar Index (DXY) climbed
Market expects RBNZ to maintain rates at the current level of 5.50%.
Additionally, the market caution surrounding the US Federal Reserve’s interest rates trajectory is reinforcing the positive sentiment for US Dollar . Federal Reserve Governor Michelle Bowman expressed on Monday that it seems appropriate to further increase the policy rate and sustain it at restrictive levels for an extended period.. Barr highlighted the importance of considering interest rates trajectory. Nevertheless, Barr is optimistic that the Fed can navigate inflation without causing significant harm to the job market.
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