As a nation with a heavy dependence on fossil fuel imports, New Zealand sits among the major economic casualties from energy supply disruptions stemming from the lengthening conflict between Iran, the US and regional neighbours. And, as a small open economy closely tied to the performance of China, the world's largest energy importer, it comes as little surprise the Kiwi dollar has been among the hardest hit G10 FX currencies so far this week.
NZD/USD Price Forecast: Bears loom after testing 200-DMA downwards
The US dollar continues to see a lot of buying in general, as the “risk off” behavior continues to be a factor.
NZD/USD edges higher to mid-0.5900s amid USD downtick; upside potential seems limited
NZD/USD weakens as risk-off sentiment lifts the US Dollar
NZD/USD holds US-Iran war-driven losses near 0.5950, US ISM PMI data eyed
NZD/USD recovers early lost ground; climbs back closer to 0.6000 amid modest USD pullback