India, April 18 -- The New Zealand dollar weakened against other major currencies in the Asian session on Friday, as traders speculate additional easing by the Reserve Bank of New Zealand (RBNZ).
Markets are pricing in a rate decrease in May and expect the Official Cash Rate to drop to 2.75 percent by year's end because inflation is still within the RBNZ's target range.
Growing fears about the economic effects of U.S. tariffs and trade tensions, also led to the downturn of traders' sentiment.
However, because of Good Friday, trading volumes are probably going to stay low.
Given New Zealand's tight export relations with China, its biggest trading partner, investors are closely monitoring changes in U.S. trade policy.
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