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NZD/USD pressured below 0.6950 amid stronger USD

Mohamed Abdelhamid 12 October, 2021 2:48 am Forex Market, Market Update

NZD/USD has surrendered the previous session’s gains on Tuesday in the Asian session. The buying pressure in the U. S. dollar keeps NZD/USD unsteady.

NZD/USD is trading at 0.6933, down 0.12% for the day, the U. S. Dollar Index (DXY), which measures its performance against its six major rivals, trades at 94.37 near its highest since September 2020.

USD still attracts the capital flows on its safe-haven appeal amid surging energy prices, which fuels the inflationary pressure.

In addition to the foregoing, Fed’s remains pondering the disappointing NFP data as expectations of tapering next month are strong.

NZD lost its momentum on reduced risk appetite among investors amid latest COVID-19 restrictions and mixed economic data.

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