Kiwi hit by new virus case; souring risk sentiment supports yen, Swiss franc

TOKYO : The New Zealand dollar tumbled on Tuesday after the country discovered its first community case of COVID-19 in six months while the Australian dollar slipped to a one-month low as minutes from the central bank meeting were perceived as dovish.

The news came just a day before the country's central bank, the Reserve Bank of New Zealand , is widely expected to become the first among developed countries to raise interest rates since the pandemic as its economy booms. The minutes showed the Reserve Bank of Australia , which surprised markets by sticking to its plan to start tapering bond buying, would be prepared to take policy action, should coronavirus lockdowns across the country threaten a deeper economic setback.

The New York Federal Reserve's barometer of manufacturing business activity, released on Monday, declined more than expected in August while the University of Michigan's survey on Friday showing U.S. consumer sentiment dropped sharply in early August to its lowest level in a decade. As investors tried to reduce risk, so-called safe-haven currencies, such as the yen and the Swiss franc, gained a boost.

The Swiss franc also held on to latest gains at 0.9133 franc per dollar. On the euro, it stood at 1.0745 franc to the euro, staying near its nine-month high of 1.0720 set earlier this month.

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