NZD/USD: a sedate pace of local growth and USD strength weighs - ANZ

Analysts at ANZ explained that a more sedate pace of local growth and USD strength saw the NZD/USD move lower overnight.

Key Quotes:

"Expect downward pressure to be maintained as interest rate differentials come into focus next week (hiking US Fed and on-hold RBNZ). AUD remains under pressure too with concerns over iron ore prices linked to the lifting of winter steel production restrictions and the impact of US import tariffs on demand. We see the risk of iron ore prices falling back through USD70 a tonne as relatively high, in the short term."