NZ Dollar Falls As Asian Stock Markets Traded Lower

India, May 20 -- The New Zealand dollar weakened against other major currencies in the Asian session on Wednesday amid increased risk aversion by the inversion, as surging crude oil prices led to a sustained acceleration in the pace of inflation and continued to drive global bond yields higher, increasing the possibility of an interest rate hike in the coming months to combat inflation.

CME Group's FedWatch Tool is currently indicating a 41.9 percent chance rates will be a quarter point higher following the U.S. Fed's last monetary policy meeting of the year.

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