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NZD/USD unable to sustain demand above 0.7800

FXstreet.com (Barcelona) – The NZD/USD foreign exchange rate is last trading at fresh session lows 0.7779 barely above NY session weekly lows and Friday’s lows around the 0.7760 level, slightly in the negative for the week so far.

NZD/USD underperforms against other major pairs

Kiwi has been weakest currency among majors, even weaker than Aussie, as “emerging market concerns combined with potential Western intervention in Syria are driving weakness in risk currencies,” said ANZ in a note to clients.

Apart from this, “Fonterra upgraded its 2013/14 dairy season pay out forecast to a new record high of $NZ8.12/kg, from …read more