Currency Alerts
11/26/2009 8:56 PM ET
(RTTNews) -
The New Zealand dollar lost ground against its major rivals on Friday morning in Asia as risk averse traders flee from higher-yielding currencies amid increasing fears about the global financial stability after Dubai's state-owned firms shocked the markets with a debt default request.
The NZ dollar plummeted to 2.1246 against the euro by 6:40 pm ET, the lowest level since September 2 and the next downside target for the domestic currency is seen around the 2.175 level. The euro-kiwi pair that closed yesterday's deals at 2.1023 is presently worth 2.1031.
Against the US dollar, the New Zealand unit slumped to more than a 1-1/2 month low of 0.7049 at this time and this may be compared to yesterday's close of 0.7152, The kiwi-buck pair is presently worth 0.7121 with 0.697 seen as the next target level.
The New Zealand dollar plunged to a new 4-month low of 59.96 against the Japanese yen around 6:40 pm ET and the next downside target for the pair is seen near the 59.0 level. The kiwi-yen pair that closed yesterday's deals at 61.94 is presently quoted at 61.28.
The New Zealand currency slumped to its lowest level in more than 5-1/2 months against the Australian dollar in early Asian trading today. The kiwi declined to 1.2806 against the aussie before snapping back to 1.2728 around 6:40 pm ET. The aussie-kiwi pair, which closed yesterday's deals at 1.2792, is presently quoted at 1.2746.
by RTT Staff Writer
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