The US dollar dipped on this morning as Canada signalled it was ready to make a concession to the United States to resolve their talks over reworking the North American Free Trade Agreement.
A positive run on Wall street also boosted the greenback, with the S&P 500 closing nearly 0.4 percent higher overnight. Still, anxiety over the trade dispute between China and the United States kept many investors on edge.
The Aussie traded near a 2 and ½year low yesterday, amid concerns, Australia’s exporters could suffer from any damage to the Chinese economy from a trade war.
New Zealand dollar hasn’t shown any real signs of recovery since the mid-point of August. However, we have seen plenty of selling interest at that stage, and it appears the sellers are in control through the previous demand level and the fundamentals continue to stack up for the US dollar bulls.