The New Zealand Dollar Declined


The New Zealand Dollar Declined

The New Zealand dollar declined to near four-year lows against U.S. Dollar after the data showed the  ANZ Business Confidence indicator fall to -52.3 in August.

It was considered to be the feeble level since April 2008. The NZD/USD pair slide 0.4% to 0.6309 by 12:20 AM ET (04:20 GMT). It is the lowest level since September 2015.

The AUD/USD pair slipped 0.1% to 0.6728. The Aussie dollar was also smashed by the weak data. Meantime the U.S. dollar index was little changed at 98.132.

U.S. Treasury Secretary Steven Mnuchin said in an interview with Bloomberg that “The U.S. does not intend to intervene in currency markets for now. Situations could change in the future but right now we are not contemplating an intervention.”

He also added that he believes Chinese negotiators visit Washington for trade talks, but he refused to confirm whether a previously planned meeting in September would still take place.

Wednesday Mnuchin said “We continue to have conversations. We’re planning for them to come”.

Also said that he has been in contact with the Yi Gang, the governor of the People’s Bank of China, over what the U.S. has deemed manipulation of the yuan.

Mnuchin said, “We’ve had conversations with the IMF and directly with our counterparts in China, including the governor of the PBOC. We will have a separate dialog and discussion on currency as part of the trade discussion but separate from the trade discussion.”

Sino-U.S. trade war tension has irritated financial markets in recent days after both sides frightened to impose tariffs on each other’s goods worth billions of dollars.

Donald Trump resumed attacking the Federal Reserve for not being able to “keep up with the competition”

The USD/JPY pair went down 0.2% to 105.91.