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NZD/USD falls to fresh 4-week low

FXStreet (Córdoba) - After a short lived recovery, NZD/USD turned again to the downside and fell to 0.7722, reaching the lowest price since October 6. The pair remains near the lows, under pressure as the US dollar holds a bullish tone against commodity currencies.

During the Asian session the pair bottomed at 0.7736 and then turned to the upside, erasing losses. But the recovery was capped below 0.7800. In the last hour dropped more than 70 pips, breaking below 0.7735.

NZD/USD near 2014 lows

Today’s decline brought the price close to 0.7705, where 2014 lows lie. Below it would be trading at the lowest since July 2013. A daily close around current levels would be the weakest in a year.

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