NZD/USD drifts lower below 0.5650 as weaker GDP fuels RBNZ rate cut bets – FXStreet

The NZD/USD pair is slipping below 0.5650 as New Zealand’s weaker GDP data increases expectations for a rate cut by the Reserve Bank of New Zealand (RBNZ). The pair is drifting lower as investors react to the disappointing economic growth figures. This has fueled speculation that the RBNZ may need to lower interest rates to stimulate the economy. The market sentiment is bearish as the pair continues to decline.