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The New Zealand dollar was far worst in the morning this morning, due to the value of the business sentiment indicator that has deteriorated to its lowest level ever since the global financial crisis. The ANZ indicator declined in August to -50.3 from -44.9%, reaching the lowest point in 2008 and exerting substantial pressure on the kiwi. It should be remembered that RBNZ Governor Adrian Orr said last week at the Jackson Hole conference that poor performance of the business sentiment indicator has already begun to influence investment decisions and translate into lesser production. In addition, Prime Minister Jacinda Ardern has been under pressure lately because of the pessimistic mood in the business sector that threatens the New Zealand economy. All this led to a 0.9% drop in the NZD price.
