Kiwi is Influenced by US & New Zealand Retail Sales

The New Zealand dollar fell today as the Asian stocks dropped and the concerns about another debt crisis in Europe decreased the attractiveness of the higher-yielding currencies.

The New Zealand dollar also weakened on the speculation that the report will show the US retail sales increased, reducing the flow of the funds to the other markets. The currency jumped, reducing its losses, after the report showed that the retail sales in New Zealand itself grew 0.8 percent in September.

NZD/USD dropped from 0.7743 to 0.7719 as of 9:51 GMT today after it fell to the intraday low of 0.7682.

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