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NZ dollar slips to around 0.5655 per US dollar
The move comes as NZD weakens to a three-month low amid US-Iran tensions and traders monitor upcoming remarks from the US Federal Reserve.
The New Zealand dollar fell against the US dollar in early European trading on Tuesday, slipping to around 0.5655 and extending its downside toward a three-month low, according to FXStreet.
The report linked the pressure on NZD/USD to ongoing US-Iran tensions, with traders watching potential developments after Bloomberg reported that Qatari mediators would hold talks involving the US and Iran.
FXStreet also noted comments by Iran’s foreign minister, who said Tehran discussed proposals with Qatari mediators to be relayed to the US, and that conditions emphasized by Iran’s supreme leader must be met for the Strait of Hormuz to reopen.
On the New Zealand side, FXStreet said a hawkish tilt from the Reserve Bank of New Zealand could help limit further Kiwi losses, even as the central bank had signaled a possible pause for October and market expectations have shifted more hawkish.