The Kiwi is performing well in the market, but it’s not the only currency on the rise. The Australian Dollar (AUD), Euro (EUR), Swiss Franc (CHF), British Pound (GBP), and even the struggling Japanese Yen are all showing strength. The Canadian Dollar (CAD) will also be in focus with the Bank of Canada meeting on Wednesday.
Despite the lack of fresh news catalysts, the weakening US yields are putting pressure on the US Dollar, which is benefiting ‘risk’ assets. This trend is reflected in the image showing the NZD/USD pair hitting a three-week high on June 6, 2024. The image is sourced from Forexlive.