FXStreet (Córdoba) – NZD/USD broke below 0.7105 and dropped to 0.7080, hitting a fresh 4-year low. The pair then rebounded and rose back above 0.7100. Currently trades at 0.7110, 70 pips below yesterday’s closing price.
The kiwi, again, is the worst performer among major currencies and is losing ground across the board amid expectation of a rate cut by the Reserve Bank of New Zealand.
NZD/USD and another weekly decline
The pair is about to end the week with a decline of almost 3%. Out of the last six trading weeks it has fallen in five. Yesterday the pair made a key technical break of the previous 2015 lows, located around 0.7180 and weakened further.
(Market News Provided by FXstreet)