The New Zealand dollar strengthened to around $0.605 on Thursday, marking its fourth consecutive day of gains, driven by improving risk sentiment as a ceasefire between Israel and Iran continues to hold. The kiwi also benefited from a weakening US dollar amid renewed concerns over the US Federal Reserve’s independence. According to reports, President Donald Trump is searching for a successor to Fed Chair Jerome Powell. Trump’s frustration with Powell's "wait and see" approach to interest rates has reportedly prompted him to consider announcing his pick in September or October. Domestically, recent economic data, particularly better-than-expected Q1 GDP figures and a widening trade surplus, have supported the case that the Reserve Bank of New Zealand is approaching the end of its current easing cycle.