NZD/USD bulls move in on softer US dollar – by fx_ross NZDUSD RBNZ Currencies DollarIndex Fed
The US Dollar fell by -0.31% and posted a 2-week low as lower Treasury-note yields dropped in a technical move from highs and weighed on the Greenback. In addition, weaker-than-expected US economic news on May wholesale sales and May consumer credit was negative for the US Dollar ahead of this week's''Core prices likely decelerated in June to their slowest m/m pace since 2021, with the index rising 0.
Domestically, there was not much to go by so far, but data from China showed a very different price dynamic to that of New Zealand, where wage-price spiral risks are expected to keep policymakers worried for a while yet, analysts at ANZ Bank explained:
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