The New Zealand dollar traded around $0.566, hovering near its weakest level since November 2025, as persistent US dollar strength continued to pressure the currency. The kiwi has been particularly hit by the US Federal Reserve’s hawkish policy stance, which has further supported the greenback.
Risk appetite has also deteriorated, with a shift in sentiment against semiconductor and AI-related stocks contributing to broader market declines.
Meanwhile, the Reserve Bank of New Zealand is widely expected to raise interest rates by 25 basis points at its July meeting, and the Official Cash Rate (OCR) is forecast to reach 3.35% by the end of next year.
