NZD/USD was pressured by the latest............>

KIWI: NZD/USD was pressured by the latest developments in the U.S.-China trade

situation on Wednesday, with the U.S. looking at imposing 25% tariffs on $200bn

worth of Chinese goods. It is worth noting that the U.S. has extended the public

comment deadline on the tariff matters by a week, to Sep 05.

- The USD softened a touch on the back of the FOMC decision, as the Fed stood

pat, as expected, with no notable changes to the rhetoric employed in the

accompanying statement. This allowed the NZD/USD cross to edge away from lows of

$0.6782, last ~$0.6790, well within the broader $0.6690-$0.6860 range observed

in July.

- NZ focus is on next week's RBNZ MonPol decision after the NZD had little

reaction to yesterday's NZ Q2 labour market report.