NZD/USD trims its recent losses, trading around 0.5660 during the early European hours on Monday.
NZD/USD experiences a technical upward correction despite increased risk aversion. The NZD faced challenges as China's retaliatory tariffs on certain US exports have come into effect. The US Dollar received support from the rising cautious mood surrounding the Fed’s policy outlook. However, the pair could face challenges again amid escalating trade war concerns.
Meanwhile, Fed Board of Governors member Adriana Kugler noted that US growth and economic activity remain healthy overall, but noted that progress toward the Fed's inflation goals has been somewhat lopsided, per Reuters. US-China Trade War FAQs What does “trade war” mean? Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end.
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