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NZD/USD slips near 0.5590 as bearish momentum persists
The NZD fell toward its lowest level since November 2025, with elevated US Treasury yields cited as a key pressure point and traders watching Wednesday's FOMC minutes.
NZD/USD slid to around 0.5590 in early European trading Tuesday, extending a bearish tone for the New Zealand dollar versus the US dollar, according to FXStreet.
The NZD weakened to near its lowest level since November 2025 against the USD, with the move linked to elevated US Treasury yields and uncertainty ahead of the November general election.
FXStreet said markets were pricing roughly a 58% chance of a 25 basis point rate hike by the Reserve Bank of New Zealand later this month to 3.0%, while a December move was described as more than fully priced in.
Traders were also set to watch the minutes from the September Federal Open Market Committee meeting, due Wednesday, alongside references to a more hawkish tone around US policy expectations.