Warsh's Rate Hike Warning Sinks Kiwi Dollar

Federal Reserve chair Kevin Warsh's speech at Jackson Hole has set markets abuzz, with expectations of a rate hike in September. The kiwi dollar fell to 59.25 US cents as investors anticipated higher interest rates. This comes after Warsh emphasized the Fed's focus on prices and inflation, which is running ahead of the central bank's 2% target.

US President Donald Trump announced plans to tap Venezuela's proven oil reserves in partnership with a private company, creating what would be the world's second-largest private oil company. Brent crude oil futures slipped 0.5% to US$89.30 heading into the weekend.