• NZD/USD attracts fresh sellers on Friday amid a goodish pickup in the USD demand. 
• The Fed’s hawkish outlook and rising US bond yields lift the USD to a two-month top.
• The market attention remains glued to the release of the crucial US PCE Price Index. 

The NZD/USD pair comes under some renewed selling pressure following the previous day's brief pause and dives to its lowest level since mid-May during the Asian session on Friday. Spot prices currently trade just above mid-0.6000s, down 0.35% for the day, and now seem to have confirmed a bearish breakdown through the 50-day Simple Moving Average (SMA).

The US Dollar (USD) regains positive traction following Thursday's softer US data-led decline and climbs to a nearly two-month peak amid the Federal Reserve's (Fed) hawkish outlook. In fact, the recent comments by a slew of influential FOMC members suggested that the US central bank is in no rush to start its rate-cutting cycle, triggering a fresh leg up in the US Treasury bond yields. Apart from this, some repositioning trade ahead of the crucial US inflation data provides an additional boost to the buck, which turns out to be a key factor exerting downward pressure on the NZD/USD pair. 

The New Zealand Dollar (NZD), on the other hand, is weighed down by expectations that the Reserve Bank of New Zealand (RBNZ) will cut rates earlier than projected. This, to a larger extent, overshadows a generally positive tone around the equity markets and fails to lend any support to the risk-sensitive Kiwi, suggesting that the path of least resistance for the NZD/USD pair is to the downside. Traders, however, might prefer to wait for the release of the US Personal Consumption Expenditures (PCE) Price Index for cues about the Fed's future policy decisions and rate-cut path.