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Forex - NZD/USD weekly outlook: August 3 - 7

NZD/USD rises 0.23% on the week but falls 2.53% for the month - The New Zealand dollar fell to a two-week low against its U.S. counterpart on Friday, amid growing expectations the Federal Reserve will raise interest rates later this year.

NZD/USD hit 0.6535 on Friday, the pair's weakest level since July 20, before subsequently consolidating at 0.6591 by close of trade, down 0.2% for the day.

On the week, the pair inched up 0.23%, but declined 2.53% for the month.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at 97.32 late Friday, paring the week’s gains to 0.1%.

The dollar index rose 1.86% in July, boosted by expectations that the Federal Reserve could raise rates as soon as September if the economy continues to improve as expected.

The central bank sounded more upbeat about the economy...