NZD/USD got a punch from S&P – the credit rating agency downgraded the country’s outlook from stable to negative and sent the kiwi down. NZD/USD rose before the announcement and reached 0.7835, but plunged more than 100 pips after this surprising news. The blame falls on the banking sector,that suffers a “significant weakening in the credit quality”. Read more on Bloomberg.
NZD/USD Falls as S&P Downgrades New Zealand’s outlook
