The New Zealand dollar edged lower against its major counterparts on Friday morning in Asia.
Extending yesterday's downtrend, the NZ dollar reached 0.8110 against the US dollar, its weakest level since October 16, 2012. On the downside, the kiwi-greenback pair may find target around the 0.8085 level.
The New Zealand dollar slipped back to below the key 83.0 level against the yen, falling as low as 82.98, its weakest level since May 8. The next downside target for the kiwi-yen pair is seen around the 82.20 area.
The New Zealand dollar dropped to a 2-day low of 1.2063 against the Australian dollar, compared to 1.2025 hit late New York Thursday. If the New Zealand dollar extends downtrend, 1.21 is seen as the next likely support level in the near-term.
The New Zealand currency also slipped to a fresh 2-month low of 1.5896 against the euro on Friday morning in Asia. Further bearish extension could lead the NZ dollar re-testing the 1.5930 support.
For comments and feedback: editorial@rttnews.com