NZD/USD recovers form multi-year lows amid a weak US dollar

FXStreet (Córdoba) – The decline of the US dollar versus the euro favored the upside in NZD/USD that recently printed a fresh daily high at 0.6880.

NZD/USD again hits 5-year lows, but rebounds

During the Asian session the pair dropped to 0.6782, hitting the lowest level since June 2010. The announcement of capital controls after the end of negotiations between Greece and its creditors boosted the demand for safe heaven assets, including the US dollar.

Afterwards managed to stabilize and remained relatively steady during most of the day. Three hours ago after approaching 0.6800 rebounded sharply and rose breaking above previous highs.

Currently trades at 0.6875, 50 pips above Friday’s closing price, having the best performance in three weeks.

The decline of the US dollar versus the euro favored the upside in NZD/USD that recently printed a fresh daily high at 0.6880.


(Market News Provided by FXstreet)