FXStreet (Córdoba) – A weak greenback pushed the pair to the upside during the European session. The kiwi remains among the worst performers in the currency market over the last few days.
NZD/USD reached multi-year lows yesterday but bounced to the upside after the FOMC statement and climbed momentarily above 0.7000. Today fell to test yesterday’s lows that lie at 0.6860/70 but managed to hold above.
Recently peaked at 0.6980 and now stands at 0.6930/35, modestly higher for the day afer being able to erase losses.
From RBNZ to GDP
The pair erased all gains that followed Yellen’s press conference after the release of the GDP report in New Zealand. The economy grew by 0.2% during the first quarter, below expectations. Last week the rate cut by the central bank triggered a decline of the kiwi in the market and recent GDP data pushed the currency even lower. NZD/USD held above weekly lows favor by the decline of greenback and not by a stronger kiwi.
(Market News Provided by FXstreet)