EUR/NZD back above 1.70, off fresh 20-month highs

FXstreet.com (Barcelona) – The EUR/NZD foreign exchange cross rate is last trading near session lows at 1.7125, off recent session highs at 1.7213 printed at the same level of those from Friday, highest since Dec 2011.

EUR/NZD pares all previous 2-week loses

Despite worst NZ trade deficit in 2013 earlier released, Kiwi is pretty resilient to weakening further, while Euro is steady against USD, with London closed later on over holidays. The cross had last week best weekly performance since Sept 2011 adding more than 4% in gains, paring all previous 2-week loses, on combined Euro strength and Kiwi weakness.

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