NZD/USD grinds higher past 0.6400 as US Dollar struggles to cheer hawkish Fedspeak

• NZD/USD clings to mild gains during two-week uptrend.
• Cautious optimism in the market joins sluggish US Treasury yields, USD to favor buyers.
• Hawkish Fedspeak, recession fears probe upside momentum amid light calendar.

NZD/USD remains mildly bid around 0.6415 as the Kiwi bulls cheer the upbeat sentiment amid sluggish hours of early Friday’s trading. In doing so, the quote reverses the previous day’s losses while bracing for the second consecutive weekly gain.

The risk-on mood could be linked to the hopes of more stimulus from China, mainly after the People’s Bank of China’s (PBOC) fifth monthly inaction. On the same line could be the challenges for the Federal Reserve’s (Fed) rate hike trajectory emanating from the downbeat US data.