NZ Dollar Drops Against Majors

The New Zealand dollar weakened against the other major currencies in the Asian session on Wednesday.

The NZ dollar fell to a 2-day low of 1.0623 against the Australian dollar, from an early high of 1.0606.

Against the U.S. dollar, the yen and the euro, the kiwi edged down to 0.6848, 82.51 and 1.5949 from yesterday’s closing quotes of 0.6867, 82.71 and 1.5893, respectively.

If the kiwi extends its downtrend, it is likely to find support around 1.07 against the aussie, 0.67 against the greenback, 81.00 against the yen and 1.62 against the euro.

The material has been provided by InstaForex Company – www.instaforex.com

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