The New Zealand dollar dropped versus the US dollar Wednesday but losses were awaited to be still limited as sustained worries on the strength of the US economic recuperation continued to weigh on the greenback.
Kiwi hit 0.8748 during late Asian trade, the lowest since June 30 and it subsequently consolidated at 0.8762, inching down 0.14%.
The currency edged higher versus the Australian dollar, slipping 0.24% to 1.0797.
The US dollar was still under pressure since data last week reflecting a 2.9% economic constriction in the 1st quarter boosted anticipations the Federal Reserve will maintain rates for a prolonged period.
Investors were also anticipating the US nonfarm payrolls report, due Thursday due to the Independence Day holiday, for further indications on the firmness of the economic recovery.
The material has been provided by InstaForex Company – www.instaforex.com
The New Zealand dollar dropped versus the US dollar Wednesday but losses were awaited to be still limited as sustained worries on the strength of the US economic recuperation continued to weigh on the greenback.
Kiwi hit 0.8748 during late Asian trade, the lowest since June 30 and it subsequently consolidated at 0.8762, inching down 0.14%.
The currency edged higher versus the Australian dollar, slipping 0.24% to 1.0797.
The US dollar was still under pressure since data last week reflecting a 2.9% economic constriction in the 1st quarter boosted anticipations the Federal Reserve will maintain rates for a prolonged period.
Investors were also anticipating the US nonfarm payrolls report, due Thursday due to the Independence Day holiday, for further indications on the firmness of the economic recovery.
The material has been provided by InstaForex Company – www.instaforex.com
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