The New Zealand dollar fell to $0.563, hovering near a seven-month low, amid expectations that the Reserve Bank will cut interest rates again next week. Markets have fully priced in a 25bps reduction, following a run of weak economic indicators that reinforced the need for further policy stimulus. Adding to this, data out today showed producer prices rose less than expected in third quarter, signaling that price pressures are easing. However, analysts recently noted that this could be the final cut in the current easing cycle, barring any significant deterioration in global economic conditions. Meanwhile, President Donald Trump last week lifted tariffs on more than 200 food products in response to rising US grocery prices. The affected goods account for about 25% of New Zealand’s exports to the US, a move that is expected to provide support to the Antipodean country’s export sector.