The New Zealand dollar sank today versus its US counterpart after Japan cut its exports and the meeting of European finance ministers ended without meaningful conclusion. The kiwi, as the New Zealand currency is nicknamed, managed to advance versus the Japanese yen.
European finance chiefs were meeting yesterday to discuss an aid for Greece. Yet the outcome disappointed Forex market participants and the indebted country did not get help without any clear indication of reasons. Japan’s trade deficit shrank from ¥0.96 trillion in September to ¥0.62 trillion in October as a result of falling exports.
NZD/USD dropped from 0.8169 to 0.8149 as of 9:54 GMT today and its daily minimum was at 0.8124. NZD/JPY rose from 66.70 to 66.91 — the highest settlement since April 12.
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