NZD/USD softens below 0.6000 as RBNZ says economic downturn could get worse – FXStreet

The New Zealand Dollar (NZD) has weakened against the US Dollar (USD), dropping below the key level of 0.6000. This decline comes as the Reserve Bank of New Zealand (RBNZ) warns that the economic downturn in the country could worsen in the near future. The RBNZ’s statement has added to existing concerns about the state of the economy, leading to a decrease in demand for the NZD. Traders are closely monitoring the situation and adjusting their positions accordingly.