NZD/USD nears multi-month lows at 0.5800 on broad-based US Dollar strength 

• The New Zealand Dollar extends losses against a stronger USD, nearing four-month lows at 0.5800.
• The US Dollar is outperforming its peers on Wednesday despite rising threats to the Fed's independence.
• On Thursday, New Zealand's Business Confidence and Capital Expenditure data will provide some guidance for the Kiwi.

The New Zealand Dollar is struggling on Wednesday against a stronger US Dollar. The pair depreciates about 0.60% so far, reaching weekly lows right above 0.5820 and approaching four-month lows, at 0.5800

The Greenback is outperforming its peers on Wednesday despite growing concerns about the Federal Reserve's independence. Trump escalated his war against the bank this week, ordering the ousting of governor Lisa Cook, who rejected the order and announced a lawsuit against the president. More to come in the Trump-Fed saga.

Concerns about Fed's independence might limit US Dollar's rellies

The US president has been attacking the central bank relentlessly over the last few months, accusing it of being too slow in easing its monetary policy. Trump's attempt to fire Cook is the latest of a series of attacks intended to influence the committee's decisions, which are eroding the market confidence in the bank's independence.

Regarding macroeconomic data, US figures released on Tuesday provided further support to the US Dollar. Durable Goods Orders decline was shallower-than-expected, and Consumer Confidence did not deteriorate as much as forecasted, which improved investors' impression about the outlook of US consumption and industrial activity.

In New Zealand, investors will be looking to August's Business Confidence and Private Capital Expenditure data to confirm the upbeat expectations triggered by the Retail Sales figures seen earlier this week. The Kiwi needs strong data to counter the dovish message from the latest RBNZ statement and help the pair to take some distance from current levels.