NZD/USD depreciates after registering modest gains in the previous day, trading around 0.5960 during the Asian hours on Wednesday. The pair declines as the US Dollar (USD) receives support ahead of the release of US Personal Consumption Expenditures data, the Federal Reserve’s preferred measure of inflation. Traders will shift their focus to Fed Chair Kevin Warsh’s speech at the annual Jackson Hole symposium on Friday to gain clear guidance on the central bank’s policy decision in September.
However, the upside of the US Dollar (USD) could be restrained due to easing safe-haven demand following reports that Iran and Oman discussed establishing a temporary joint maritime corridor in the Strait of Hormuz.
Technical talks between the two nations are set to continue as they work toward a permanent arrangement. This future corridor is expected to cover the administration of the…
