By FX Empire.com
The New Zealand currency, nicknamed the Kiwi, declined against the American counterpart as stocks in Asia declined and the sentiment continued to be weak on prevailing debt and growth woes.
The commodities prices are also losing ground, which supported the New Zealand’s to remain weak amid a wide wave of risk aversion with the political tension in Greece and Italy further adding downside pressure on growth and undermining Europe’s ability to contain the crisis.
In the meantime, the investors are shifting away from risky assets as the investors watched the latest developments after European leaders failed to contain the crisis amid rising possibility of Greece leaving the single currency.
Both economies will not release any data on Tuesday, where the pair’s movements will depend on the market sentiment.
Originally posted here
