NZD/USD trims most of its intraday losses but still trades in the negative trajectory, bidding around 0.
NZD/USD extends losses on weaker Kiwi and Chinese economic data. Kiwi Employment Change declined by 0.2% in the third quarter. China's Manufacturing PMI dropped to 49.5 in October. Traders seek Fed's remarks on interest rates trajectory. 5820 during the early European session. The pair faces losses in the second consecutive session as market sentiment leans toward the US Dollar ahead of monetary policy decision by the US Federal Reserve on Wednesday.
5 in October compared to the 50.8 expected, lower than September's expansion at 50.6. On Tuesday, the US Dollar Index got a lift from higher US Treasury yields, holding steady around 106.70 as the 10-year US bond yield stood at 4.90% by the press time. The prevailing market sentiment suggests an anticipation that the US Federal Reserve will keep the current interest rate at 5.5% in the Wednesday meeting.
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