The NZD/USD pair has declined for a third consecutive day after a modest rise in Asian trading to 0.5775, briefly touching a new low not seen since early April. Current spot rates hover just beneath the mid‑0.5700 range, positioning them for significant weekly declines as the US dollar strengthens.
The US Dollar Index (DXY), which measures the greenback against a basket of major currencies, has climbed to its highest level since May 2025, bolstered by the Federal Reserve’s hawkish stance. Moreover, policymakers now forecast the fed funds rate to reach 3.8% by year‑end, up from 3.4% in March, suggesting at least one 25‑basis‑point rate hike before December. This outlook eclipses recent optimism surrounding the US‑Iran peace initiative and continues to pressure NZD/USD.
In related news, CNN reported that US Vice President JD Vance has scrapped his planned visit to Iran talks in Switzerland, dampening recent optimism and reinforcing dollar strength. Nonetheless, the Reserve Bank of New Zealand’s hawkish outlook may temper aggressive short‑selling of the NZD, limiting further downside for NZD/USD. The RBNZ projects its policy rate to rise to about 2.85% by year‑end, implying up to three additional hikes.
US Dollar Price This week
The table below shows the percentage change of US Dollar (USD) against listed major currencies this week. US Dollar was the strongest against the British Pound.
USDEURGBPJPYCADAUDNZDCHFUSD1.04%1.60%0.66%1.11%0.55%1.41%1.14%EUR-1.04%0.52%-0.37%0.06%-0.51%0.36%0.09%GBP-1.60%-0.52%-1.06%-0.44%-1.04%-0.17%-0.44%JPY-0.66%0.37%1.06%0.45%-0.11%0.79%0.47%CAD-1.11%-0.06%0.44%-0.45%-0.60%0.33%0.02%AUD-0.55%0.51%1.04%0.11%0.60%0.88%0.60%NZD-1.41%-0.36%0.17%-0.79%-0.33%-0.88%-0.27%CHF-1.14%-0.09%0.44%-0.47%-0.02%-0.60%0.27%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
