The New Zealand dollar fell to around $0.574 on Tuesday, giving up gains from the previous session, weighed down by expectations of further policy easing by the Reserve Bank. While recent Q3 inflation data showed prices rising to a one-year high of 3%, reaching the upper end of the central bank’s target range, the RBNZ’s preferred inflation gauge held steady at its lowest level since early 2021, and other core measures also pointed to subdued pressures. The central bank had also long anticipated the possibility of inflation breaching its target, making the latest figures a reassuring outcome. Markets remain fully priced in for a 25 bps rate cut in November, with a smaller probability of a 50 bps move. Limiting further losses, sentiment was supported by signs of easing US-China trade tensions, with officials set to meet this week ahead of President Trump’s upcoming talks with President Xi.