FX.co ★ New Zealand Dollar Falls for 2nd Day

On Thursday, the New Zealand dollar declined to approximately $0.607, maintaining its downward trend from the previous day as investors kept a keen eye on developments in global trade. President Donald Trump had earlier stated that he would not extend the July 9 deadline for countries to finalize trade agreements, even though negotiations with a significant partner, Japan, had not progressed. On Wednesday, Trump revealed an agreement with Vietnam allowing duty-free entry of US goods into Vietnam, while Vietnamese exports to the United States would incur a 20% tariff—a reduction from the 46% announced in April. Meanwhile, investors await the release of the US non-farm payrolls report later today for further insights into the Federal Reserve's future actions. Domestically, the Reserve Bank of New Zealand is expected to hold its current monetary stance at next week's meeting. Nonetheless, investors anticipate one or two additional 25 basis-point cuts later this year due to concerns over the consequences of US tariffs.