NZ dollar rises 0.5% as global markets rally

The New Zealand dollar climbed to around US56.90¢ in offshore trading as equity markets posted strong quarterly gains and US-Iran talks were scheduled in Qatar.

Reviewed by Rakai 2 July 2026

The New Zealand and Australian dollars rose by approximately 0.5% against the US dollar in offshore trading, with the NZD reaching around US56.90¢.

The gains came as global equity markets rose, with the S&P 500 up nearly 1% and on track for its strongest quarterly gain since 2020. The S&P 500 gained close to 14% over the quarter, while the Nasdaq rose approximately 20%.

Australasian currencies rose more than other G10 currencies against the US dollar. US-Iran negotiations were scheduled in Qatar aimed at formally concluding the conflict.