NZD/USD is hovering at a one-month low, slightly over 0.6300, amid a stronger USD/risk-off mindset.
NZD/USD?makes a minor rebound from a one-month low, but little more buying is seen. For the risk-averse Kiwi, a rising USD and the risk-off atmosphere operate as a headwind.
The underlying environment favors the possibility of the pair’s current slide continuing. Near the 0.6300 level, the NZD/USD pair finds some support and recovers a few points from a one-month low reached earlier this Monday. On the other hand, spot prices find it difficult to benefit from the change and are still at risk of extending the abrupt fall from the highest level since June 2022, reached last week.