The NZD/USD pair extends its downside near 0.6015 during the early European session on Tuesday.
NZD/USD attracts some sellers around 0.6015inTuesday’searly European session. The Fed's Jefferson was the latest policymaker to call for holding rates at current levels until inflation shows more signs of easing. NewZealand’stwo-year inflation expectations dropped from 2.50% in Q1 to 2.33% in Q2of2024. The downtick of the pair is backed by the stronger US Dollar broadly.
Minneapolis Fed Neel Kashkari noted that he is in“wait and see mode”about future monetary policy. These hawkish remarks have boosted the Greenback broadly and created a headwind for the NZD/USD pair. On the Kiwi front, the Reserve Bank of New Zealand showed on Monday that NewZealand’stwo-year inflation expectations dropped from 2.50% in Q1 2024 to 2.33% in Q2 of this year, while the average one-year inflation expectations eased to 2.73% in Q2 vs. 3.22% seen in the first quarter of 2024.
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