Monday morning in New York, the New Zealand dollar edged down against its major counterparts. The kiwi thus pared its Asian session gains against most of them. The NZ dollar slipped to a 5-day low of 0.4946 against the US dollar by 8:50 am Eastern Time and thus challenged last Wednesday's fresh multi-year low. The kiwi-buck pair is presently worth 0.4969. Against the 16-nation currency also, the New Zealand dollar reached a 5-day low in early New York trading. The kiwi declined to 2.5439 versus the euro around 9:10 am ET and the pair is currently quoted at 2.5385. On the downside, the New Zealand currency is likely to target near the 2.552 level. The New Zealand dollar reversed its Asian session's uptrend against the Japanese yen in early New York trading on Monday. The kiwi dropped to 48.92 against the yen by 8:50 am from 49.78 hit early in the Asian session. The next likely target for the kiwi on the downside is at the 48.6 level. Against the Australian dollar, the New Zealand currency eased to 1.2812 by 8:20 am Eastern Time. The aussie-kiwi pair is presently quoted at 1.2781.

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