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The NZD/USD pair is pushing lower in the early American session and was last seen losing 0.2% on the day at 0.6994. The modest USD strength seems to be weighing on NZD/USD. The US Dollar Index is currently rising 0.12% on the day at 91.99.

The data published by the US Bureau of Economic Analysis showed on Friday that the Core Personal Consumption Expenditures (PCE) Price Index rose to 3.5% on a yearly basis in June from 3.4% in May. This print came in lower than the market expectation of 3.7%. Other data from the US revealed that Personal Income increased by 0.1% in the same period while Personal Spending expanded by 1%. Meanwhile, St. Louis Fed President James Bullard said the labour market could be fully recovered by next summer and added this would meet the condition for the Fed to start raising rates.