The New Zealand dollar edged up to $0.589 on Friday, heading for a weekly advance, benefiting from a broadly weaker US dollar. The greenback has come under renewed pressure as markets priced in higher odds of a Federal Reserve rate cut next month, while lingering concerns about the Fed’s independence also weighed on sentiment. Investors are now awaiting the US PCE price index - the Fed’s preferred inflation gauge - due later today for more clues on the US rate path. However, the kiwi’s upside remains capped by a dovish policy outlook from the Reserve Bank of New Zealand. The RBNZ slashed its cash rate last week and left the door open to further easing in an effort to revive a struggling economy and buffer it from external headwinds. Data released today highlighted domestic weakness, with consumer confidence in New Zealand falling to a ten-month low in August amid weakening employment and wage growth. For the week, the kiwi is up 0.4%, though it remains largely flat for the month.