The NZD/USD pair lacks any firm intraday direction on Monday and seesaws between tepid gains/minor losses through the first half of the European sessi
on. Spot prices currently trade below the 0.6000 psychological mark, though remain well within the striking distance of a nearly two-month high touched on Friday.
That said, a fresh leg up in the US Treasury bond yields, bolstered by the prospects for further policy tightening by the Federal Reserve , acts as a tailwind for the Greenback and caps the upside for the NZD/USD pair. Investors seem convinced that the US central bank will stick to its hawkish stance and have been pricing in the possibility of one more lift-off by the year-end.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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