NZ DOLLAR DROPS AGAINST MOST MAJORS

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

The NZ dollar fell to a 1-week low of 89.89 against the yen, from yesterday's closing value of 90.34.

Against the euro and the U.S. dollar, the aussie dropped to near 5-week lows of 1.7721 and 0.6160 from Monday's closing quotes of 1.7655 and 0.6199, respectively.

If the kiwi extends its downtrend, it is likely to find support around 88.00 against the yen, 1.79 against the euro and 0.60 against the greenback.

News are provided by InstaForex

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