The New Zealand dollar gained after US inflation sapped expectations the US Federal Reserve will hike interest rates at this week's meeting, weighing on the greenback, and ahead of local data which will likely show slowing economic growth.
The kiwi rose to 63.66 US cents at 8am in Wellington from 63.48 cents yesterday. The trade-weighted index was unchanged at 68.72.
See live rates for the NZ-US $ below. Click for more information:
The US consumer price index shrank 0.1 percent in July, in line with expectations, but eroding optimism the Federal Open Market Committee will raise interest rates when it announces its policy review on Thursday in Washington, and dragging the greenback lower. Traders are awaiting second-quarter gross domestic product data for New Zealand, which will likely show the country's economy expanded 0.6 percent in the period, as they assess whether the Reserve Bank will cut interest rates again.