NZ Dollar Near This Year’s Low

The New Zealand dollar erased its earlier gains today as the potential Greece’s exit from the eurozone continued to spoil mood of Forex market participants. The currency traded near the lowest level this year.
Greece faces a new election on June 17 and traders are worried that it may result in the country leaving the euro-union. The announcement of the European Central Bank that it stopped lending to some Greek banks was not helping market’s mood either. Earlier, the kiwi rallied on speculations that recent losses were excessive. ANZ National Bank reported that the number of job advertisements fell 2 percent in April, following the March’s 0.9 percent decline.
NZD/USD fell from 0.7642 to 0.7634 as of 12:27 GMT today, near yesterday’s low of 0.7623, which was the lowest level since December 20. NZD/JPY slipped from 61.32 to 61.23, while the daily minimum of 61.15 was the lowest since January 17.

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