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Forex News: NZ Dollar Drops Against Majors

NZ Dollar Drops Against Majors

08/31/2017 - 02:07:00 (RTTNews)

(RTTNews) - The New Zealand dollar weakened against other major currencies in the Asian session on Thursday.

The NZ dollar fell to nearly a 3-month low of 0.7164 against the U.S. dollar and nearly a 1-1/2-year low of 1.1034 against the Australian dollar, from yesterday's closing quotes of 0.7199 and 1.0968, respectively.

The kiwi dropped to 2-day lows of 1.6581 against the euro and 79.16 against the yen, from yesterday's closing quotes of 1.6500 and 79.35, respectively.

If the kiwi extends its downtrend, it is likely to find support around 0.69 against the greenback, 1.11 against the aussie, 1.67 against the euro and 77.00 against the yen.

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