NZ Dollar Drops Against Majors
The New Zealand dollar weakened against the other major currencies in the Asian session on Monday.
The NZ dollar fell to 5-day lows of 1.6702 against the euro and 75.13 against the yen, from last week's closing quotes of 1.6567 and 75.71, respectively.
Against the U.S. and the Australian dollars, the kiwi dropped to 4-day lows of 0.6751 and 1.1232 from Friday's closing quotes of 0.6786 and 1.1173, respectively.
If the kiwi extends its downtrend, it is likely to find support around 1.70 against the euro, 73.00 against the yen, 0.65 against the greenback and 1.13 against the aussie.
The material has been provided by InstaForex Company - www.instaforex.com
