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>>NZD/USD drops below 0.6000 as dovish RBNZ expectations disappear amid escalating tariff turmoil.

NZD/USD drops below 0.6000 as dovish RBNZ expectations disappear amid escalating tariff turmoil.

crypthub

about 4 hours ago

NZD/USD Breaks Key Level

The pair slipped below the 0.6000 psychological barrier, erasing recent gains. Heavy selling followed softer domestic inflation data, pushing the price toward the 0.5920 support zone near the 50‑day moving average. A break of that level could open a path to 0.5850, while any rebound will face resistance around 0.5980‑0.6000. Trading volume surged, confirming broad market participation.

Dovish RBNZ Outlook Weakens

The Reserve Bank of New Zealand signaled a data‑dependent stance, moving away from earlier dovish expectations. Governor Adrian Orr emphasized persistent core inflation, prompting traders to scale back bets on imminent rate cuts. The official cash rate remains at 5.50%, stabilising the NZD‑USD interest‑rate differential. Analysts now see a higher probability of the OCR staying on hold through Q3 2025.

Tariff Turmoil Adds Downward Pressure

New tariff announcements between major economies have revived protectionist fears, hurting New Zealand’s export‑driven economy. Higher shipping and insurance costs, plus uncertainty for dairy and commodity markets, push risk‑averse investors toward the safe‑haven US dollar. The global economic policy uncertainty index is at its highest since late 2023, reinforcing the NZD’s weakness. Continued trade friction is likely to keep volatility elevated in the coming months.