The Kiwi weakened against the Greenback, following business confidence report for New Zealand. The NZD/USD exchange rate lost 0.09% or 7 base points to keep declining to be seen trading at 0.7820.
Business sentiment in New Zealand turn negative in the fourth quarter of 2017, falling to the lowest level in two years, amid pessimistic stance towards the new Labour-led government, as it is usually less "pro-business", compared with the National Party. 12% of surveyed firms anticipated business conditions to worsen, compared with 5% expecting an improvement in the prior quarter, the New Zealand Institute of Economic Research report showed. Data is unlikely to change the RBNZ’s thinking about the economy to push back rate increases.
