The New Zealand dollar held around $0.566, hovering at its lowest level since November 2025, as the sustained strength of the US dollar continued to weigh on the currency. The kiwi has been particularly affected by the US Federal Reserve's hawkish stance, which has further boosted the greenback. Investor risk appetite has also weakened amid a reversal in sentiment toward semiconductor and AI-related stocks, contributing to broader market declines. Meanwhile, the Reserve Bank of New Zealand is widely expected to raise interest rates by 25 basis points at its July meeting, with the OCR projected to reach 3.35% by the end of next year.