Following Monday's sharp decline, NZD/USD came under renewed bearish pressure on Tuesday and dropped to its weakest level in nearly three weeks below
USD rally continues on Tuesday in the second half of the day and forced NZD/USD to continue to push lower. Reflecting the souring market mood, Wall Street's main indexes opened deep in negative territory. As of writing, the S&P 500 Index was losing 1.3% on the day and the Nasdaq Composite was down 1.6%.
Meanwhile, the number of job openings on the last business day of August stood at 9.6 million, the US Bureau of Labor Statistics reported on Tuesday, compared to 8.9 million in July. This reading surpassed the market expectation of 8.8 million by a wide margin and highlighted tight labor market conditions in the US. The benchmark 10-year US Treasury bond yield climbed to fresh multi-year highs above 4.7% after this data and the USD gathered further strength against its major rivals.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.EUR/USD dropped to a fresh 2023-low near 1.0450 on Tuesday before staging a modest rebound. After the data from the US showed that the number of job openings rose unexpectedly in August, the US Dollar extended its rally and caused the pair to turn south in the American session.GBP/USD fell sharply to the 1.
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