NZD/USD struggles to extend its recent advance on Friday, hovering near 0.6045 after an intraday high of 0.6079. The pair remains trapped inside a rising wedge formation, typically a bearish signal, as the broadly weak US Dollar steadies.
The GBP/USD retreats by over 0.10% after hitting a near four-year high of 1.3770 on Thursday, dipping to 1.3700 as the US Dollar recovers some ground following the release of the US Core Personal Consumption Expenditures (PCE) Price Index for May.
The Japanese Yen (JPY) has been the only G10 currency losing against the dollar since the start of June, with the key driver being a dovish reassessment of Bank of Japan rate expectations after the latest meeting, ING's FX analyst Francesco Pesole notes.