NZD/USD Holds Near 0.5650 as Bearish Bias Persists

NZD/USD trades around 0.5650-0.5660 at the end of June, consolidating near multi-month lows after failing to sustain rebounds above 0.5850. The pair had rallied toward 0.6000 in early May on RBNZ hawkish signals and improving risk sentiment, but reversed sharply after hotter US CPI data, resilient nonfarm payrolls, and a hawkish Fed that lifted 2026 rate-hike odds above 70%. Renewed geopolitical tensions and safe-haven USD demand accelerated the decline through June, pushing the kiwi below the 200-day SMA and toward the 0.5680 YTD low before a modest stabilization near 0.5650.