US Dollar Index rebounds modestly after testing 97 on Tuesday. 10-year US Treasury bond yield continues to push lower. Coming up: ADP Employment Change and ISM Non-Manufacturing PMI from US. The NZD/USD pair erased a portion of Tuesday’s decisive gains during the Asian trading hours but didn’t have a difficult time regaining traction. As of writing, the pair was trading at 0.6298, adding 0.4% on a daily basis. Although the Federal Reserve’s surprising 50 basis points rate cut on Tuesday triggered a USD selloff, sharp fall witnessed in the US Treasury bond yields and stocks US pointed out to a risk-off environment and kept the NZD’s gains in check. With European equity indexes and the US stock futures climbing higher on Wednesday, the pair took advantage of the upbeat market and, once again, turned north. Nevertheless, the 10-year US T-bond yield remains dangerously close to all-time lows that it set on Tuesday at 0.916% and erases 5% on the day, suggesting that the flight-to-safety could restart dominating markets in the near-term. Focus shifts to US data In the second half of the day, the ADP Employment Change and the ISM Non-Manufacturing PMI data will be looked upon for fresh impetus. Some experts think that the Fed could opt out for another 25 basis points rate cut at its March meeting and disappointing readings could ramp up this probability and weigh on the greenback. At the moment, the US Dollar Index is up 0.25% on the day at 97.38, limiting the pair’s upside for the time being. Technical levels to watch for FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD: Potential for a move toward 1.35 – TDS FX Street 3 years US Dollar Index rebounds modestly after testing 97 on Tuesday. 10-year US Treasury bond yield continues to push lower. Coming up: ADP Employment Change and ISM Non-Manufacturing PMI from US. The NZD/USD pair erased a portion of Tuesday's decisive gains during the Asian trading hours but didn't have a difficult time regaining traction. As of writing, the pair was trading at 0.6298, adding 0.4% on a daily basis. Although the Federal Reserve's surprising 50 basis points rate cut on Tuesday triggered a USD selloff, sharp fall witnessed in the US Treasury bond yields and stocks US pointed out to a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.