The New Zealand dollar hovered around $0.597 on Tuesday, following three consecutive sessions of losses, weighed down by a stronger US dollar. The greenback advanced after the US and the EU reached a trade agreement that imposes a 15% tariff on most European goods. Investors are also watching the ongoing US-China trade talks, amid expectations of another 90-day extension to the truce between the world’s two largest economies. A favorable outcome could offer support to the Kiwi, given New Zealand’s deep trade ties with China, its largest export destination. Market focus is also on the upcoming US Federal Reserve policy meeting, where the central bank is widely is expected to hold interest rates steady. At home, markets are currently pricing in around a 75% probability the Reserve Bank of New Zealand will cut its 3.25% cash rate by 25bps at its next meeting in August.