Like many countries, the NZ currency is struggling against the US dollar. File photo. Photo: 123rf
The New Zealand dollar has regained a bit of ground against a strong US dollar after late afternoon trading, rising to almost 56.1 US cents.
The Kiwi is up nearly half a percent on this morning's 55.5 US cents, but is expected to remain under pressure, alongside other major currencies.
The NZ dollar is trading at levels last seen in October 2022, with the Australian dollar also trading at two-year lows against the US dollar.
The US dollar continued to hover near record highs, amid fading expectations of an interest rate cut by the US Federal Reserve later this month.
US inflation was expected to rise above the Fed's target range once President-elect Donald Trump moved back into the White House next week, with policies designed to drive economic growth, but also add to price pressures.
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