NZD/USD dips below 0.6000: US inflation and RBNZ’s dovish stance weighs on NZD

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• US Producer Price Index (PPI) surpasses estimates, bolstering the US Dollar as Treasury yields soar.
• Reserve Bank of New Zealand (RBNZ) is expected to maintain rates at 5.50%, adding pressure on the NZD.
• NZD/USD’s future hinges on US economic data and potential RBNZ rate surprises; 0.5900 level in sight.

NZD/USD plunges below 0.6000, set to finish the week with losses of 1.86% after inflation data in the United States (US), although mixed, weighed on the NZD/USD pair. Furthermore, the Reserve Bank of New Zealand (RBNZ) adopting a dovish stance was the last nail in the coffin for the Kiwi dollar (NZD). The NZD/USD exchanges hands at 0.5981, down 0.65%.