The NZD/USD pair extends the downside to near 0.5815, the lowest since April 11, during the early Asian trading hours on Friday. The New Zealand Dollar (NZD) softens against the Greenback as the Reserve Bank of New Zealand (RBNZ) delivered a rate cut and left the door open for further moves lower.
The kiwi is under significant pressure this morning, losing around 1% against the US dollar following the Reserve Bank of New Zealand's (RBNZ) meeting.
The NZD/USD pair gains ground to near 0.5985 during the Asian trading hours on Thursday. The US Dollar (USD) weakens against the New Zealand Dollar (NZD) as traders ramp up bets for a Federal Reserve (Fed) rate cut in September.