However, the trade war has also hurt Chinese manufacturing.
US officials for their part have said that the impeachment inquiry isn't affecting the trade talks and that any attempt to portray otherwise is an attempt to weaken the US hand at the negotiating table and would be a miscalculation by the Chinese.
"No one's putting any stock on anything coming out of these negotiations," says Mike Shirley, a dealer at Kiwibank.
"They're not even meeting until Thursday. This has been going on for so long that there's a sense of no one wanting to get too excited until there's something tangible," he says.
Market activity was also dampened by much of Australia, including New South Wales and South Australia, observing the Labour Day holiday and by the last day of China's celebrations of the 70th anniversary of the People's Republic.
The trade war between the world's two largest economies started early last year and Trump began imposing tariffs on Chinese imports in July last year. China has since retaliated with tariffs on US imports.
The impeachment inquiry and the rioting that has continued for months in Hong Kong "is more noise in an already pretty hectic schedule of events - just another thing to focus on," Shirley says.
The New Zealand dollar was trading at 93.45 Australian cents from 93.27, at 67.40 yen from 67.42, at 4.5102 Chinese yuan from 4.5088, at 57.47 euro cents from 57.46 and at 51.19 British pence from 51.29.
The two-year swap rate edged up to a bid price of 0.8113 percent from 0.8108 on Friday while the 10-year swaps fell to 1.1000 percent from 1.1025.