NZD/USD Pushes Back Toward 0.59 After Shaky Run

2031 GMT — The NZD/USD edges back toward 0.59 early on Monday, with ANZ Bank noting that correlations across G-10 currencies remain high. It says the NZD is moving in step with the EUR as markets debate whether the ECB’s next hike will be its last, and as markets await this week’s U.S. CPI data, which is the last major piece of data before next week’s Federal Reserve meeting. “Tomorrow’s Pre-election Economic and Fiscal Update is unlikely to cause too much of a stir in FX markets, especially with rating agency S&P affirming New Zealand’s AA+ sovereign credit rating on Friday,” ANZ says. “But bond markets will be sensitive to issuance forecasts.” ([email protected]; @dwinningWSJ)