Kiwi Sees Afternoon Weakness Against The Majors, Tuesday, July 31, 2007 5:18:45 PM

The New Zealand dollar moved lower against the other major currencies on Tuesday in New York. The kiwi saw weakness in the afternoon against the dollar, euro and sterling. There was little economic news was released from New Zealand on the day.

The kiwi dropped in afternoon trading against the greenback on Tuesday in New York. The currencies were range-bound in the morning, but the New Zealand currency began to drop at around noon ET and continued to decline in the afternoon. It got as low as 0.7610 at 4 p.m. ET. About an hour later, the pair was at 0.7621.

The New Zealand dollar saw weakness in afternoon trading against the euro. The kiwi was range-bound until about 2 p.m. ET when it began to decline sharply. It fell for about two hours before leveling off.

The kiwi moved lower against the sterling in the afternoon on Tuesday in New York. The New Zealand currency fell below a range in the early afternoon and continued to decline. It finally stabilized at around 4 p.m. ET.

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