The NZD/USD pair lacks any firm intraday direction on Monday and seesaws between tepid gains/minor losses through the first half of the European sessi
on. Spot prices currently trade below the 0.6000 psychological mark, though remain well within the striking distance of a nearly two-month high touched on Friday.
That said, a fresh leg up in the US Treasury bond yields, bolstered by the prospects for further policy tightening by the Federal Reserve , acts as a tailwind for the Greenback and caps the upside for the NZD/USD pair. Investors seem convinced that the US central bank will stick to its hawkish stance and have been pricing in the possibility of one more lift-off by the year-end.
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