The Kiwi struggles to capitalize on stronger-than-expected Chinese economic data as US Treasury yields remain the primary driver for the currency pair.
NZD weakened as US yields outweighed better-than-expected China services data.
The New Zealand Dollar faces downward pressure as rising US bond yields continue to dictate market sentiment. Despite China's official services index printing at 50.2, beating the 49.3 forecast, the Kiwi failed to gain traction against the greenback.
The Kiwi's performance is currently dominated by US bond yields, which have exerted more influence on the currency than the better-than-expected Chinese services index.