New Zealand Dollar extends rebound after RBNZ rate hike, US-Iran tensions cap gains
NZD/USD advances on Thursday and trades around 0.5730 at the time of writing, up 0.56% on the day.
  • The New Zealand Dollar extends its rebound after New Zealand's central bank delivered a rate hike.
  • China's June inflation data comes in slightly below expectations but fails to derail the Kiwi's advance.
  • Ongoing tensions between the United States and Iran support safe-haven demand and could underpin the US Dollar.

NZD/USD advances on Thursday and trades around 0.5730 at the time of writing, up 0.56% on the day. The New Zealand Dollar (NZD) continues to strengthen after the Reserve Bank of New Zealand (RBNZ) delivered a more hawkish-than-expected monetary policy decision, providing ongoing support to the currency.

As widely expected, the RBNZ raised its Official Cash Rate by 25 basis points to 2.5% at its July meeting. More importantly, the central bank indicated that further withdrawal of monetary stimulus may be needed to ensure inflation returns sustainably to target. According to the RBNZ's projections, inflation is expected to peak at 3.9% in the second quarter before gradually easing back toward the 2% midpoint of the target range by mid-2027. DBS noted that the unanimous vote in favor of the rate hike marks a notable shift from May's split decision and reflects the central bank's renewed commitment to tackling inflationary pressures.

However, the latest data from China is limiting the New Zealand Dollar's upside potential. China's National Bureau of Statistics (NBS) reported that the Consumer Price Index (CPI) rose 1% YoY in June, down from 1.2% previously and below the market consensus of 1.1%. On a monthly basis, inflation fell 0.3%, a larger decline than expected, highlighting softer price pressures in New Zealand's largest trading partner.

The US Dollar (USD), meanwhile, continues to receive support from the geopolitical backdrop. Tensions between the United States (US) and Iran intensified for a second consecutive day, with both sides issuing fresh threats of escalation. The deterioration in geopolitical conditions is boosting demand for safe-haven assets and could limit NZD/USD's upside in the near term.

New Zealand Dollar Price Today

The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the strongest against the Canadian Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD -0.05% -0.02% -0.06% 0.07% -0.03% -0.59% -0.10%
EUR 0.05% 0.03% -0.04% 0.12% 0.04% -0.51% -0.04%
GBP 0.02% -0.03% -0.07% 0.08% 0.00% -0.55% -0.07%
JPY 0.06% 0.04% 0.07% 0.12% 0.07% -0.53% -0.03%
CAD -0.07% -0.12% -0.08% -0.12% -0.06% -0.63% -0.15%
AUD 0.03% -0.04% -0.01% -0.07% 0.06% -0.56% -0.08%
NZD 0.59% 0.51% 0.55% 0.53% 0.63% 0.56% 0.48%
CHF 0.10% 0.04% 0.07% 0.03% 0.15% 0.08% -0.48%

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 New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote).

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Name / Symbol
Diagramm
% Änderung / Preis
GBPUSD
1 T Änderung
+0%
0
EURUSD
1 T Änderung
+0%
0
USDJPY
1 T Änderung
+0%
0

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