- New Bank of Japan Governor Kazuo Ueda spurred US Dollar buying.
- Speculation that the tightening cycle is over weighed on investors’ mood.
- NZD/USD is neutral-to-bearish around 0.6220, could extend its slump.
It was not a good start to the week for the New Zealand currency, as it weakened sharply against its American rival. NZD/USD fell to 0.6913 on Monday and trades at around 0.6220 ahead of Tuesday’s opening. The Kiwi lost the most during European trading hours despite financial markets in the Old Continent remaining closed due to the Easter Monday Holiday.
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