News Column

NZ Dollar Extends Rise Against Majors

July 8, 2014

CANBERA (Alliance News) - The NZ dollar extended its rise against the other major currencies in the early European session on Tuesday.

The NZ dollar rose to 0.8805 against the US dollar for the first time since August 2011. This may be compared to an early low of 0.8738. At yesterday's close, the kiwi was trading at 0.8755 against the greenback.

Against the euro, the kiwi advanced to a 14-month high of 1.5437 from an an early low of 1.5568. The pair was quoted at 1.5519 at yesterday's close.

The kiwi rose to more than a 3-month high of 89.61 against the yen and a 4-day high of 1.0673 against the Australian dollar, from early lows of 89.00 and 1.0718, respectively. At yesterday's close, the kiwi was trading at 89.17 against the yen and 1.0693 against the aussie.

If the kiwi extends its gain, it is likely to find resistance around 1.53 against the euro, 0.88 against the greenback, 90.00 against the yen and 1.05 against the Australian dollar.

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Source: Alliance News

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