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NZ Dollar Drops Against Most Majors

The New Zealand dollar weakened against most major currencies in the Asian session on Friday.

The NZ dollar fell to more than a 4-month low of 0.7096 against the U.S. dollar, from yesterday's closing value of 0.7111.

Against the euro and the yen, the kiwi dropped to 3-week lows of 1.6490 and 80.09 from yesterday's closing quotes of 1.6452 and 80.23, respectively.

If the kiwi extends its downtrend, it is likely to find support around 0.69 against the greenback, 1.67 against the euro and 78.00 against the yen.

by RTTNews Staff Writer

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