Kiwi trades weaker after RBNZ views
On Thursday, the Australian dollar headed south during Asia trade following gloomy business confidence survey, while the New Zealand stood weak amid the latest economic assessment from the major bank, which saw room to ease further and also called for a weaker exchange rate.
The currency pair NZD/USD was worth 0.6977, showing a 0.64% slump. Elsewhere, the currency pair USD/JPY traded at 107.30, demonstrating a 0.39% surge, while AUD/USD was worth 0.7472, down 0.01%. At the same time, GBP/USD hit 1.3230, with a 0.19% soar.
In Australia, the NAB quarterly business confidence poll arose at plus-2 during the second quarter, compared with a first quarter figure of about plus-4. By the way, the quarterly business outlook is dated, though it’s a good sector indicator.
A bit earlier, on Thursday, the Reserve Bank of New Zealand suggested the more easing is real from an overnight cash rate of about 2.25% with a weaker Kiwi as an objective of policy as well as downside risks for global growth.
The US dollar index, gauging the greenback’s strength against six major currencies, last traded at 97.16.