NZD/USD depreciates to near 0.6150 due to market caution ahead of Fed Powell’s speech – FXStreet

The New Zealand Dollar (NZD) has dropped to nearly 0.6150 against the US Dollar (USD) as investors exercise caution in the market before Federal Reserve Chairman Jerome Powell’s speech. This depreciation in the NZD/USD exchange rate is a result of uncertainty and hesitancy among traders. Powell’s speech is anticipated to provide insights into the Fed’s monetary policy and the overall economic outlook, leading to market participants taking a wait-and-see approach. The NZD/USD pair is closely monitored by investors as they navigate through the current market conditions.