NZD plunges from 0.5680 to 0.5550. Kiwi is approaching its long-term low of 0.5 75. USD strengthens before another rate of 0.75D. NZD makes a strong reversal on Friday, driven by overall USD strength. The Kiwi fell from a session high of 0.5700 to 0.5550, approaching a 2020 low of 0.5 75. KIWI USES US DOLLAR STRENGTH The greenback rallied on Friday, paring losses seen earlier this week, as investors await a fourth straight 75-basis-point rate hike in November. Higher-than-expected US inflation data on Thursday gave the bank more reason to continue its aggressive monetary policy tightening cycle. In addition, investor concerns about a future global recession favored the US dollar as a safe haven. At the macroeconomic level, New Zealand Business NZ PMI data showed a larger than expected slowdown in September. Business activity slowed to 52 from August 52.5, compared to expectations for 52.5.