NZD weakens as US Treasury yields rise on Fed hawkishness
The New Zealand dollar fell against major currencies after US Federal Reserve Chair Warsh signalled a more hawkish stance, boosting expectations of a September rate hike.
Front-end US Treasury yields spiked following hawkish remarks from Federal Reserve Chair Warsh at Jackson Hole. Market pricing shifted to reflect around a 60 per cent probability of a September Fed rate hike. The strengthening US dollar weighed on the New Zealand dollar across major currency pairs.
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interest.co.nz
NZD generally softer on the main crosses
Front-end US Treasury yields rose sharply after Fed Chair Warsh’s hawkish Jackson Hole remarks. Market pricing for a September Fed hike increased to around 60%. The US dollar strengthened broadly