RTTN: NZ Dollar Slides To 7-week Low Against Greenback
(RTTNews) - The New Zealand dollar that traded higher against its major rivals in early European trading on Wednesday pared some of its gains shortly.
The kiwi slumped to 0.6965 against the US dollar around 7:15 am ET, its lowest level since July 7. The next downside target for the kiwi-greenback pair is likely to be seen around the 0.69 level. The pair that closed yesterday's deals at 0.7026 is presently quoted at 0.6970.
Against the euro, the NZ dollar fell to a 5-day low of 1.8136 at this time and this may be compared to yesterday's close of 1.7986. The euro-kiwi pair is presently worth 1.8110 with 1.82 seen as the next likely target level.
The New Zealand dollar dropped to a 2-day low of 1.2663 against the Australian dollar around 7:15 am ET, compared to 1.2558 hit late New York Tuesday. On the downside, the kiwi may find target around the 1.2685 level. Currently, the aussie-kiwi pair is quoted at 1.2641.
The NZ dollar that rose to as high as 59.81 against the Japanese yenaround 4:30 am ET reversed its course thereafter and the pair is currently testing yesterday's 3-month low of 58.71.
