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NZD/USD gains ground to near 0.5905 in Wednesday’s Asian session.
New Zealand’s CPI rose 3.1% YoY in Q1, hotter than expected.
Warsh rejected senators’ concerns that he would bend to Trump’s demands to cut interest rates.
The NZD/USD pair gathers strength to around 0.5905 during the Asian trading hours on Wednesday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) on hotter-than-expected domestic inflation data.
New Zealand’s Consumer Price Index (CPI) rose 3.1% YoY in the first quarter (Q1) of 2026, versus 3.1% increase seen in the fourth quarter of 2025, Statistics New Zealand reported on Tuesday. This figure came in above the market consensus of 2.9%. The quarterly CPI inflation climbed to 0.9% in Q1 from the previous reading of 0.6%, beating the estimates of 0.8%.
Higher-than-expected Q1 inflation data has fueled market speculation that the Reserve Bank of New Zealand (RBNZ) may need to raise interest rates sooner than previously. This, in turn, provides some support to the Kiwi.
On the other hand, remarks from Federal Reserve (Fed) Chair nominee Kevin Warsh regarding independent monetary policy might help limit the USD’s losses. Warsh said on Tuesday he had made no promises to Trump about cutting interest rates, as he tried to assure US senators mulling his confirmation to lead the Fed that he would act independently of the White House while pursuing broad reforms.
