The New Zealand dollar held around $0.576, trading sideways so far this week, as investors monitor geopolitical developments, while assessing the domestic policy outlook. Political turmoil in Venezuela following the ousting of President Nicolas Maduro, coupled with escalating tensions between China and Japan, continues to shape global risk sentiment. Beyond geopolitics, market participants are closely watching the US jobs report due on Friday, which could offer more clues on the Federal Reserve’s rate path. Meanwhile, the Reserve Bank of New Zealand has indicated that its easing cycle likely ended last year after a cumulative 225 bps of cuts, but it has also pushed back against near-term rate hike expectations. In December, Governor Anna Breman indicated that interest rates are likely to remain at current levels for some time. Currently, markets are pricing in less than a 50% chance of a rate increase before September, with an October move increasingly favored.