The New Zealand dollar rose to around $0.604 on Monday, climbing back toward the eight-month high reached last week, supported by optimism over easing global trade tensions. President Donald Trump said Treasury Secretary Scott Bessent and two other officials will meet with Chinese counterparts in London on Monday for renewed trade talks. Meanwhile, fresh Chinese data revealed persistent deflationary pressures, with consumer prices falling for a fourth consecutive month and producer prices recording their steepest decline in nearly two years. This placed some downward pressure on the antipodean currency, given China’s role as a key trading partner. On the domestic front, the Reserve Bank recently cut rates by 25 basis points to 3.25%. However, the May decision suggests the easing cycle may be nearing its end. Markets now expect the RBNZ to hold rates steady in July, while pricing in the likelihood of a final cut in August.