NZD/USD sits near two-week high set on Friday, comfortably above 0.6100 mark – by hareshmenghani NZDUSD Fed Bonds Inflation Currencies
The US Dollar edges higher for the second successive day and turns out to be a key factor that keeps the NZD/USD pair below a two-and-half-week top, around the 0.6135-0.6140 region touched on Friday. A modest uptick in the US Treasury bond yields acts as a tailwind for the Greenback. The uncertainty over the Federal Reserve's rate-hike path, however, caps any meaningful upside for the buck and continues to lend some support to the major.
It is worth recalling that the recent dovish rhetoric by several Fed officials boosted expectations for an imminent pause in the US central bank's rate-hiking cycle. That said, surprise rate hikes by the Reserve Bank of Australia and the Bank of Canada last week suggested that the fight against inflation is not over.
In the meantime, worries about a global economic slowdown, particularly in China, could act as a headwind for antipodean currencies, including the Kiwi, in the absence of any relevant market-moving
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