Kiwi slumps on dismal NZ data, Aussie stands still

Kiwi slumps on dismal NZ data, Aussie stands still

On Tuesday, the New Zealand dollar declined versus its American rivals, while the Australian dollar was intact after the publication of dismal New Zealand business confidence data and following fresh geopolitical worries.

The currency pair NZD/USD sank 0.49% trading at 0.7239, which is the lowest value since September 15.

Tuesday’s data revealed that New Zealand's ANZ business confidence index inched down to zero in September from August’s outcome of 18.3.

The data emerged after no single party managed to win a majority in the weekend’s election in New Zealand.

The ruling National Party grasped the largest number votes, although neither of the key parties got enough seats to for a majority in parliament, thus generating a round of coalition negotiations that could take weeks.

As for AUD/USD, this currency pair was nearly intact, sticking to 0.7935.

The US dollar grew after on Monday New York Fed President William Dudley told that the major US bank is about to gradually lift interest rates considering factors depressing inflation are receding and the American economy's fundamentals are good enough.

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