New Zealand CurrencyThe New Zealand dollar fell to around $0.604 on Monday, hitting a two-week low, pressured by tariff concerns that threaten the country’s export-heavy economy. President Donald Trump confirmed that his sweeping reciprocal tariffs will take effect on August 1 and reiterated warnings that higher tariffs would target nations that fail to reach agreements. Treasury Secretary Scott Bessent echoed this, saying tariffs would revert to April 2 levels for countries without a deal. He also indicated a possible extension, noting that countries lacking an agreement by Wednesday may have an extra three weeks to continue discussions. At home, the Reserve Bank is widely expected to keep its cash rate at 3.25% this week, pausing for the first time after cutting rates at six consecutive meetings. Still, investors anticipate one or two more 25-basis-point cuts later this year due to downside risks to growth from the economic impact of US tariffs.