NZD/USD Faces Turbulence Around 0.5610 Amid Escalating US-China Trade Tensions
During early European trading on Tuesday, the NZD/USD hovered around 0.5610, grappling with volatility triggered by growing risk-off sentiment linked to rising US-China trade tensions. In response to the new 10% US tariffs, effective today, China retaliated by imposing its own tariffs. These include a 15% duty on US coal and liquefied natural gas imports, as well as an additional 10% levy on crude oil, farm equipment, and select automobiles. This escalating trade conflict threatens currency stability and could cause further fluctuations in the forex market as traders monitor developments closely.