The New Zealand dollar tumbled on cues domestic economic growth was settling to a better pace when traders were increasing bets on revival in the US dollar.
The kiwi dropped to 83.63 US cents, from Wednesday’s 83.88 US cents. The currency also climbed to 90.32 Australian cents, from 90.28 US cents yesterday. It fell 50.47 British pence, previously 50.51 pence. The dollar rose 63.13 euro cents, from 63.03 cents. And it grew ¥86.85 from ¥86.50.
“The New Zealand dollar has been at exceptional levels thanks to the outperformance of the New Zealand economy,” said Sam Tuck, Senior FX Strategist at ANZ Bank New Zealand.
“What we think now is these domestic factors have been removed, even though the economy is ticking along quite nicely. That leaves the kiwi to be driven by external factors,” Tuck added.
The material has been provided by InstaForex Company – www.instaforex.com
The New Zealand dollar tumbled on cues domestic economic growth was settling to a better pace when traders were increasing bets on revival in the US dollar.
The kiwi dropped to 83.63 US cents, from Wednesday’s 83.88 US cents. The currency also climbed to 90.32 Australian cents, from 90.28 US cents yesterday. It fell 50.47 British pence, previously 50.51 pence. The dollar rose 63.13 euro cents, from 63.03 cents. And it grew ¥86.85 from ¥86.50.
“The New Zealand dollar has been at exceptional levels thanks to the outperformance of the New Zealand economy,” said Sam Tuck, Senior FX Strategist at ANZ Bank New Zealand.
“What we think now is these domestic factors have been removed, even though the economy is ticking along quite nicely. That leaves the kiwi to be driven by external factors,” Tuck added.
The material has been provided by InstaForex Company – www.instaforex.com
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