Tuesday, August 10, 2010

Incredible Snowfall in Helsinki, Finland

Forex: NZD/USD declines to 0.7285 from 0.7330
A fragile Kiwi gave away Friday's gains, after an opening at 0.7330 headed straight down through the European session, extending a previous fall from the Asian session. The pair bottomed out at 0.7283, hitting a new intra-day low.

Despite the obvious weakness shown by the Greenback on the struggles of its domestic economy, the Kiwi has failed to hold gains above 0.7350, since topping at 0.7394, 6 month high last July 27. Ever since, attempts to regain the region were rejected by the market.

At present, current price stays at 0.7288, daily lows. Today's change stands at 0.61% favourable to the Greenback. From a weekly perspective, the pair closed over 1% higher last Friday, compared to late July.

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