The New Zealand dollar traded at one-and-a-half month lows against the US dollar Tuesday as the greenback remained supported before a series of upcoming US economic events, while recent statements by the Reserve Bank of New Zealand continued to pressure the currency.
The kiwi touched 0.8511 during late Asian trade, the pair’s lowest since June 10.
The US will release its employment report and economic growth due later in the week. The Federal Reserve will release its policy statement Wednesday.
Meanwhile, the currency was still under wide selling pressure following the Reserve Bank of New Zealand increased its interest rate from 3.25% to 3.50% last week, but did not signal the rates would climb any higher this year.
Against the Australian dollar, the kiwi traded at to 1.1039.
The material has been provided by InstaForex Company – www.instaforex.com
The New Zealand dollar traded at one-and-a-half month lows against the US dollar Tuesday as the greenback remained supported before a series of upcoming US economic events, while recent statements by the Reserve Bank of New Zealand continued to pressure the currency.
The kiwi touched 0.8511 during late Asian trade, the pair’s lowest since June 10.
The US will release its employment report and economic growth due later in the week. The Federal Reserve will release its policy statement Wednesday.
Meanwhile, the currency was still under wide selling pressure following the Reserve Bank of New Zealand increased its interest rate from 3.25% to 3.50% last week, but did not signal the rates would climb any higher this year.
Against the Australian dollar, the kiwi traded at to 1.1039.
The material has been provided by InstaForex Company – www.instaforex.com
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