The New Zealand dollar strengthened against other major currencies in the Asian session on Thursday, as Asian stock markets traded higher amid renewed optimism about a potential peace deal between the U.S. and Iran after U.S. President Trump said the U.S. was in the final stages of negotiations with Iran. Tumbling crude oil prices on hopes of the reopening of the Strait of Hormuz also eased global inflationary pressures.
Saudi Arabia's state news agency Al-Hadath reported that Pakistan could announce the final draft of a peace deal between the U.S. and Iran and added that intensive work is underway to finalize the text of agreement.
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Forex News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.