The RBNZ has decided to keep the interest rate at 5.50%, in line with investor expectations, and there is no indication that the RBNZ will raise interest rates in the near future. Furthermore, it has been mentioned that the current interest rate is sufficiently high to combat inflation, but the strengthening of the dollar will continue to exert pressure on the NZD/USD in the future.

The DXY index has reached an 11-month high and continues to receive strong support, as the Fed has confirmed its intention to maintain this interest rate in the long term. Additionally, there are opinions from several Fed officials that suggest the possibility of at least one more interest rate hike within the year. Moreover, the US JOLTS report indicates a tight labor market, which could lead to further wage-driven inflation and influence the Fed to maintain interest rates for a longer period.

However, investors should closely monitor the NZD/USD pair. Furthermore, investors are awaiting the release of data from the United States related to private sector employment and service sector PMI, which could impact US Treasury yields. This data may provide additional support for the US dollar and lead to short-term profit-taking.