30 Jan 2015
NZD/USD hits fresh 4-year low
FXStreet (Córdoba) - NZD/USD is falling for a third consecutive day on Friday, having hit a fresh 4-year low during the American session, as the greenback gains traction against commodity currencies despite softer-than-expected US GDP.
Following a consolidation phase below 0.7300, NZD/USD fell further and printed its lowest level since March 2011 at 0.7215. The pair has recovered slightly and it is currently trading at 0.7225, recording a 0.51% loss on the day and on track for a 2.82% weekly loss.
The kiwi has been under broad pressure this week after the RBNZ dropped its tightening reference and crossed to the dovish side, amid lower commodity prices and latest central banks' moves.
Following a consolidation phase below 0.7300, NZD/USD fell further and printed its lowest level since March 2011 at 0.7215. The pair has recovered slightly and it is currently trading at 0.7225, recording a 0.51% loss on the day and on track for a 2.82% weekly loss.
The kiwi has been under broad pressure this week after the RBNZ dropped its tightening reference and crossed to the dovish side, amid lower commodity prices and latest central banks' moves.