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NZD/USD fell to the bottom of a consolidation pattern on Thursday.
NZD/USD was boosted by renewed concerns about fewer rate cuts from the Federal Reserve.
New Zealand’s consumer confidence index and inflation expectations index have rebounded, but are still at low levels.
NZD/USD fell to the bottom of its recent consolidation range as rising US PMIs on Thursday reignited concerns that persistent services sector inflation could keep price growth at bay for longer than initially anticipated by investors eager for a rate cut. Be durable. Expectations for a rate cut fell throughout the day, dragging risk assets lower, with the dollar buying higher on the day.
