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NZD currency update: Kiwi dollar weakens once again

Joe Mayhew Senior Currency Broker - NZD currency update: Kiwi dollar weakens once again Written by:
Joe Mayhew
Senior Currency Broker
T: 01442 892 069

The Kiwi dollar weakened again throughout the London session yesterday.

There were no major catalysts to drive this fall in value; however, risk-sentiment has been waning in the last few weeks and the Kiwi’s recent surge seems to be unwinding as the US Federal Reserve begins to, gradually, normalise monetary policy. NZD did manage to recoup its losses throughout the Asian session.

The Food Price Index dropped overnight and the reading of Business PMI was better than forecast; which would likely have helped NZD against its counterparts.

The next Kiwi announcements come Tuesday evening when the GDT Price Index is set to be published; GBP/NZD currently sits at 1.7930 and EUR/NZD at 1.5220 mid-market.

GBP/NZD exchange rate graph

GBP/NZD exchange rate graph

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Joe Mayhew
Senior Currency Broker
T: 01442 892 060

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