The New Zealand dollar followed its Australian peer in decline today as the market sentiment was not particularly good for currencies associated with higher risk.
Risk aversion caused by mixed economic data released from China over the weekend pushed the kiwi lower, the same as the Aussie. Additionally, last week’s surprise interest rate cut from the Reserve Bank of New Zealand continues to weigh on the currency. It will be interesting to hear what RBNZ Governor Graeme Wheeler has to say during the speech he is going to deliver by the end of the current trading session.
NZD/USD fell from 0.6728 to 0.6686 as of 15:21 GMT today. NZD/JPY dropped from 76.64 to 76.05.
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