New Zealand: Dollar Edges Higher.

The New Zealand dollar edged higher to around $0.595 on Thursday, after falling 0.5% in the previous session as the US dollar advanced following a batch of economic data. US inflation and other economic indicators released on Wednesday slightly increased expectations for a Federal Reserve rate hike, with traders now awaiting Fed Chair Kevin Warsh’s first speech at the Jackson Hole symposium on Friday for clues about the Fed’s September policy decision. Still, the kiwi remained supported by expectations that the Reserve Bank of New Zealand will deliver another 25-basis-point rate hike at its meeting next week, with the policy rate seen reaching 3.0% by year-end. Meanwhile, risk sentiment improved following an agreement between Iran and Oman on the sharing of control and revenues from the Strait of Hormuz.