Soon after the Australian dollar came under pressure, the New Zealand dollar fell to its lowest level in a month. It is to be mentioned here that the market remained under pressure after some analysts were calling the NZ dollar lower.
For the record, the NZ dollar was being traded at a level of around US75.79c at 5pm on Thursday which was down from US76.22c at 8am and US76.21c at 5pm on Wednesday.
Experts are of a view that the concerns over the threat on the Euro Zone are taking their own toll from the NZ dollar and it was stuck in a range between US75.80c and US76.40c until about lunch time on Thursday.
As per Imre Speizer, currency strategist at Westpac, it even broke that support level in the post lunch session got as low as US75.60c. The analyst also mentioned that the Aussie capital expenditure report was weak in the detail and hence it registered a fall and he NZ dollar also moved in line with that.
It is believed that the Dollar will gain sustainable momentum in the long-run but the concerns for the short run are still disturbing the movement of the currency.
