FX.co ★ New Zealand Dollar Rises

The New Zealand dollar strengthened to approximately $0.596 on Thursday, driven by renewed optimism regarding potential advancements in the U.S.-China trade negotiations. This positive sentiment followed remarks from U.S. Treasury Secretary Scott Bessent, who indicated that the high tariffs imposed between the U.S. and China are unsustainable, suggesting a future de-escalation. Additionally, President Donald Trump reiterated his plan to reduce tariffs on China, although he stressed that any relief would depend on Beijing's actions. Concurrently, the Kiwi dollar gained support due to widespread weakness in the U.S. dollar. On the domestic front, the outlook was further bolstered by promising economic data. The ANZ-Roy Morgan Consumer Confidence Survey revealed a rise in consumer confidence to a four-month high in April (98.3 compared to 93.2 in March), reinforcing the upward trend that had appeared to be faltering.