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FX.co ★ New Zealand Dollar Steady Near 8-Month Highs

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typeContent_19130:::2025-07-02T02:38:25

New Zealand Dollar Steady Near 8-Month Highs

On Wednesday, the New Zealand dollar hovered around $0.609, maintaining a position near its highest point in over eight months, bolstered by a generally weaker US dollar. The American currency found itself under pressure due to the anticipated rate cuts by the Federal Reserve this year and concerns surrounding President Donald Trump's recently passed tax breaks and spending cuts legislation in the US Senate. In a statement on Tuesday, Jerome Powell indicated that a possible interest rate cut in the upcoming meeting couldn't be ruled out, emphasizing that decisions would rely heavily on forthcoming data. Investors are also keenly observing trade negotiations, as several countries are eager to finalize agreements with the United States ahead of the July 9 deadline. Domestically, expectations are that the Reserve Bank of New Zealand will maintain rates at 3.25% in the upcoming week, with market indications suggesting only a slight probability of a 25 basis points reduction.

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