The New Zealand dollar is poised to fall by 0.1% a week with nervous markets and a weaker yuan

The New Zealand dollar is preparing to drop 0.1% a week against the greenback, China having let the yuan fall, adding to the nervousness that the US-Chinese trade skirmish could to weigh on Chinese growth.

at 67.54 US cents at 5 pm in Wellington against 67.45 cents at 8:30 am and 67.82 cents yesterday. He traded at 67.63 US cents in New York last Friday. The kiwi rose to 4.5829 yuan against 4.5693 Yuan yuan yesterday

The People's Bank of China set the dollar benchmark rate at 6.7671 yuan, which lowered China's currency by 0.9 %, reported Dow Jones Newswires. The central bank determines a daily exchange rate and allows trading up to 2 percent above or below that level in mainland China. The weaker yuan is seen as an advantage for Chinese products in US markets, offsetting some of the recent price impacts.

"Trade wars and currency wars are intertwined … it gives them an edge," said Martin Rudings. main exchange at OMF. US President Donald Trump, meanwhile, said in an interview with CNBC on Thursday that a strong dollar was putting the US at a disadvantage, adding that the Chinese yuan "was falling like a stone."

being hit by the trade war weighed on the kiwi and the Australian dollar.

Rudings said with little data on the immediate horizon, the yuan and these concerns will continue to weigh. "We have never really had a close correlation with the yuan until the trade wars ignite, but now we seem to be attached to it," he said.

If the Chinese currency continues to depreciate, we will probably see the Kiwis The trade weighted index was at 72.83 yesterday against 72.89 while the kiwi was at 91.67 in Australia against 91.41 cents yesterday.

The local currency fell to 57.90 euro cents from 58.22 cents yesterday and traded at 51.82 British pence from 51.86 pence. It fell to 75.79 yen against 76.45 yen

New Zealand's two-year swap rate remained unchanged at 2.13 percent and the 10-year swaps fell by 3 basis points at 2.98 percent