"The summit may have greater ramifications than payrolls," said Tim Kelleher, head of institutional foreign exchange sales at ASB Bank. "Will Trump be presidential or go for a win, given he hasn't had many of those lately."
Xi and his wife, Peng Liyuan, will join Trump and wife Melania for dinner on Thursday night ahead of a series of meetings between the leaders on Friday, Reuters reported. Trump has previously railed against China, saying Beijing controls the level of the yuan for the benefit of its exporters and "steals" American jobs.
Both the kiwi and Australian dollar fell against the yen today in the face of what appeared to be Japanese selling, Kelleher said. Given the ADP jobs survey, the market is expecting payrolls to be above 200,000, he added.
The trade-weighted index was at 75.98 from 75.86 yesterday.
The kiwi fell against the greenback following the ADP jobs figures before climbing again after the release of the minutes of the Federal Reserve's last policy meeting, which showed policymakers believe the Fed should start reducing its US$4.5 trillion balance sheet this year, a move that would amount to tightening monetary policy.
The local currency rose to 92.48 Australian cents from 92.07 cents late yesterday. It rose to 4.8073 yuan from 4.7971 yuan. It was little changed at 65.28 euro cents from 65.27 cents and slipped to 55.82 British pence from 55.98 pence.
New Zealand's two-year swap rate fell 2 basis points to 2.24 per cent, and 10-year swaps declined 2 basis point to 3.30 per cent.
