NZD/USD trades near 0.6100 after trimming losses amid hawkish RBNZ

NZD/USD pares daily losses amid hawkish comments from RBNZ officials on Friday. Strong PMI data pushed US yields higher, bolstering the Greenback. The improved Kiwi Consumer Confidence could limit the losses of the New Zealand Dollar. NZD/USD received pressure due to the emergence of the risk aversion sentiment after the higher-than-expected Purchasing Managers Index data from the United States was released on Thursday.

In New Zealand, the ANZ – Roy Morgan Consumer Confidence rose to 84.9 in May from April’s 82.1, yet it remains relatively low, staying close to values observed during the pandemic response. While this uptick in data may have offered some support for the New Zealand Dollar , limiting the downside of the NZD/USD pair. Deputy Governor Christian Hawkesby of the Reserve Bank of New Zealand stated on Friday that cutting interest rates is not part of the near-term discussion.

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