• NZD/USD loses ground as traders adopt cautious stance ahead of key economic data this week.
• UOB Group analysts suggest that the New Zealand Dollar is expected to consolidate within a range of 0.6100 to 0.6140.
• The US Dollar receives support from the hawkish remarks from the Fed officials.

NZD/USD extends its losses for the second successive session, trading around 0.6110 during the Asian session on Wednesday. The New Zealand Dollar (NZD) struggles possibly due to risk aversion ahead of ANZ – Roy Morgan Consumer Confidence for June due and US Gross Domestic Product (GDP) for the first quarter (Q1) are set to be released on Thursday. Furthermore, the US Personal Consumption Expenditure (PCE) Price Index will be eyed on Friday.

New Zealand's Treasury stated on Wednesday that a weak economy poses a threat to its forecasts. The Treasury is considering additional spending and revenue solutions in response. Meanwhile, economist McLeish noted recent data suggesting economic weakness in New Zealand.