- NZD/USD plummets to near 0.6000 as tensions in the Middle East have battered demand for risk-sensitive assets.
- The RBNZ is expected to reduce its OCR in the next month’s monetary policy meeting.
- The US Dollar bounces back strongly as the Israel-Iran conflict boosts safe-haven demand.
The NZD/USD pair is down almost 0.1% to near the psychological support of 0.6000 on Friday. The kiwi pair faces a sharp sell-off as antipodean currencies underperform amid escalating tensions between Israel and Iran.
New Zealand Dollar PRICE Today
The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the weakest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.42% | 0.34% | 0.22% | 0.13% | 0.79% | 0.94% | 0.20% | |
| EUR | -0.42% | -0.03% | -0.15% | -0.23% | 0.45% | 0.49% | -0.23% | |
| GBP | -0.34% | 0.03% | -0.18% | -0.27% | 0.40% | 0.51% | -0.18% | |
| JPY | -0.22% | 0.15% | 0.18% | -0.07% | 0.58% | 0.71% | -0.03% | |
| CAD | -0.13% | 0.23% | 0.27% | 0.07% | 0.64% | 0.83% | 0.09% | |
| AUD | -0.79% | -0.45% | -0.40% | -0.58% | -0.64% | 0.13% | -0.58% | |
| NZD | -0.94% | -0.49% | -0.51% | -0.71% | -0.83% | -0.13% | -0.71% | |
| CHF | -0.20% | 0.23% | 0.18% | 0.03% | -0.09% | 0.58% | 0.71% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the New Zealand Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent NZD (base)/USD (quote).
Early Friday, Israel launched a series of attacks on military and nuclear targets in the northeast region of Tehran, aiming to stop the nation from building nuclear warheads. Israeli Prime Minister (PM) Benjamin Netanyahu stated that their military forces launched Operation Rising Lion to “roll back the Iranian threat to Israel’s very survival”.
On the domestic front, the New Zealand Dollar (NZD) weakens amid firm expectations that the Reserve Bank of New Zealand (RBNZ) will cut interest rates again in the policy meeting in July. Till now, the RBNZ has slashed its Official Cash Rate (OCR) by 225 basis points (bps) to 2.25% since August 2024, when it started its monetary-expansion cycle.
Meanwhile, Middle East tensions have increased safe-haven demand for the US Dollar (USD), which has been battered significantly this week due to uncertainty over the United States’ (US) tariff policy. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, bounces back to near 98.30 from the fresh three-year low of 97.60 posted on Thursday.
On Wednesday, US President Donald Trump said that he is prepared to send letters stating the final trade agreement and tariff rates to those trading partners from whom Washington has not received any proposal or those who are not negotiating in good faith.
