Kiwi falls on declining business confidence

Source: WBP Online
The New Zealand Dollar dropped against the Greenback, after recent surveys indicated solid decline in business confidence levels in August. According to ANZ Business Outlook Survey, as few as 24.4% of 1,500 businesses participated expressed confidence in the future business outlook, as well as the economy in August, down from 39.7% in July. Additionally, businesses are expecting a decline in profits and an increase in unemployment. The Kiwi contracted by 0.14% to $0.8369.
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