The New Zealand dollar rose to around $0.595 on Tuesday, advancing for the third straight session to approach a four-week high, supported by a softer US dollar. The greenback remained under pressure amid rising expectations of deeper US rate cuts, following further signs of a weakening labor market. Fed funds futures are currently pricing in nearly a 90% chance of a 25 bps cut this month, with some traders also factoring in the possibility of a larger 50 bps move. Domestically, the Kiwi faced pressure from expectations of further monetary easing by the Reserve Bank. A sharp decline in second-quarter sales across multiple industries underscored growth risks and strengthened bets on another rate cut at the RBNZ’s October meeting, following last month’s cash rate reduction and guidance for more easing ahead. Elsewhere, subdued export data from China added pressure on the export-reliant currency, given New Zealand’s close trade ties with Beijing.