The markets are increasingly optimistic about the prospect of a permanent reduction in US tariffs after the end of the 90-day moratorium, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
New Zealand Dollar (NZD) is likely to consolidate between 0.6040 and 0.6080 against US Dollar (USD). In the longer run, NZD is likely to test the 0.6090 level; it is too early to determine if it can break clearly above this level, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Gold (XAU/USD) is bouncing higher on Monday, but the broader trend remains bearish, following a nearly 3% decline last week.