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NZDUSD: Weekly & Daily Analysis update

The New Zealand dollar rose above $0.59, recouping losses from earlier in the week as the US dollar retreated after the Federal Reserve held interest rates steady and Fed Chair Powell ruled out the possibility of another rate hike, reiterating the central bank’s easing bias despite a delay.

In New Zealand, data this week showed that the unemployment rate rose to 4.3% in the first quarter, above forecasts and the highest in three years, putting the Reserve Bank of New Zealand closer to cutting rates before the Fed.

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