NZD/USD, NZD/JPY Outlook: Risk sentiment, not RBNZ rate bets, driving Kiwi direction

While New Zealand’s March quarter labour market report may dampen the case for aggressive near-term RBNZ tightening, it’s unlikely to be the primary driver for the Kiwi right now. Broader swings in risk appetite tied to developments in the Iran conflict and crude oil prices continue to dominate FX price action, leaving local rates expectations as a secondary consideration for traders. New Zealand's labour market delivered a mixed bag relative to market expectations in the March quarter, with the surprise dip in unemployment to 5.3% masking softer details underneath. Employment growth undershot forecasts at 0.2% ...