The New Zealand dollar held steady at $0.596 on Friday, hovering around a one-week high, supported by a softer US dollar. The greenback remained under pressure amid growing bets on a Federal Reserve rate cut in September and concerns about the impact of new tariffs on the US economy. The kiwi also found support from still strong trade data from China - New Zealand’s largest trading partner - which showed export growth beat forecasts in July, offering some relief amid a fragile tariff truce between Beijing and Washington. Domestically, however, sentiment was tempered by recent labor market data pointing to continued weakness, reinforcing expectations that the Reserve Bank of New Zealand could lower interest rates at its meeting later this month. Adding to the headwinds, a new 15% US tariff on New Zealand exports took effect on Thursday, posing fresh risks to the country’s export-reliant economy. For the week, the NZD is up 0.8%.