The New Zealand dollar weakened against other major currencies after the release of weaker-than-expected economic figures. The data raised concerns about the strength of the New Zealand economy, leading investors to adjust their expectations for future monetary policy.

Analysts indicated that the disappointing data could prompt the Reserve Bank of New Zealand to adopt a more cautious approach to interest rate hikes. This shift in sentiment contributed to the decline in the value of the New Zealand dollar.

The currency’s performance is expected to remain sensitive to further economic data releases and central bank commentary in the coming weeks. Market participants will be closely monitoring these developments for indications of the future direction of the New Zealand dollar.