New Zealand dollar fluctuates after RBNZ rate cut and dovish commentary

From Investing.com: 2025-05-29 07:25:00

The New Zealand dollar initially dropped but has since recovered, trading at 0.5969, up 0.04% on the day. RBNZ Governor Hawkesby foresees weaker growth and lower inflation, hinting at a potential rate hold in July due to uncertain global conditions. The RBNZ has cut rates aggressively, bringing the cash rate to 3.25%, its lowest in three years. FOMC minutes from the May meeting show concerns about increased uncertainty and potential difficult tradeoffs. The US Court of International Trade ruled Trump’s tariffs illegal, pending appeal. NZD/USD faces support at 0.5954 and 0.5937, with resistance at 0.5977 and 0.5994.



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