22.05.2020 NZD/USD Daily Analysis

22.05.2020 NZD/USD Daily Analysis

By the end of the week, the dollar went on a high note on Friday, the U.S dollar being the safe-haven with investors turning into among the simmering tensions between U.S. and China tensions rising. On Thursday according to the reports, the Dollar was boosted after China planned controversial national security laws for Hong Kong in the aftermath of pro-democracy protests in the city in the second half of 2019. The U.S. Dollar Index that tracks the greenback against a basket of other currencies was up 0.19% to 199.593. The USD/NZD - US Dollar New Zealand Dollar is trading at 1.6370, going up by +0.0027, or by +0.16%. “We will establish sound legal systems and enforcement mechanisms for safeguarding national security in the two special administrative regions and see that the governments of the two regions fulfill their constitutional responsibilities.”, said Chinese Premier Li Keqiang during the opening session for the National People’s Congress earlier in the day. An immediate response from the United States was given after the plans were drawn, with President Donald Trump saying the United States will react strongly if China imposes the laws alongside two U.S. senators that are preparing a bill imposing sanctions on entities involved in upholding the law. NZD/USD - New Zealand Dollar US Dollar going down by -0.0006, or by -0.10% and trading at 0.6108, the NZD/USD pair fell 0.25% to 0.6099 lately.