The New Zealand dollar edged up to $0.596 but stayed close to its lowest level in almost two weeks, amid reduced bets for an imminent rate hike from the Reserve Bank. A mixed jobs report earlier in the week, showing an unexpected rise in unemployment to a decade high, while employment increased more than forecast, prompted markets to push back expectations for a near-term rate hike. Traders are not fully pricing in an increase until October, while the implied probability of a September move stands at about 70%. The RBNZ is set to meet later this month in what will be the first meeting under its new governor, Anna Breman, and policymakers are widely expected to leave rates unchanged. The central bank will also release updated economic and interest-rate projections, with markets closely watching whether it maintains its guidance for a first rate increase around mid-2027. For the week, the kiwi has fallen about 1%, on track to snap a three-week winning streak.
