Fundamental OverviewThe USD continues to be backed by good economic data as we have also seen recently from the US PMIs last Friday and the US Consumer Confidence report this week. Although such data keeps the interest rates expectations stable around two cuts by the end of the year, it should also support the risk sentiment amid a pickup in growth. This could be a headwind for the greenback. The NZD, on the other hand, has been under pressure due to some US Dollar strength this week. It looks like the price action is being influenced more by month-end, quarter-end and half year-end flows rather than something fundamental. We had also a key breakout in USDJPY yesterday and flows there might
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