The New Zealand dollar slipped to $0.564 on Wednesday, its lowest level in seven months, as weak labor market data reinforced expectations of monetary easing later this month. Unemployment rate inched up to 5.3% in the third quarter from 5.2% in the second quarter, marking the highest level in nearly nine years and in line with forecasts. Employment was also unchanged from the previous three months, compared to the estimated 0.1% rise. This prompted markets to fully price in a 25bps rate cut by the Reserve Bank of New Zealand at its November 26 meeting, with even odds for an additional cut in 2026. A stronger US dollar added to the downward pressure on the kiwi after some Federal Reserve officials cast doubt on a December rate cut. The kiwi struggled near a 12-year low against the aussie, amid the diverging monetary policy paths between the two Antipodean countries, with the Reserve Bank of Australia opting to leave rates unchanged on Tuesday.