The New Zealand dollar dropped to the lowest level in almost five years against it US peer as traders were seeking safer currencies amid the Greek crisis. At the same time, the kiwi was little changed against the Japanese yen.
Talks about the bailout for Greece stalled on Monday, ending without reaching a deal. There are hopes that can be achieved an agreement by the end of the week, but for now traders prefer to play it safe and buy risk-free assets. As a result, the NZ dollar dropped against the greenback, being not as resilient as its Australian rival.
NZD/USD dropped from 0.6861 to 0.6837 as of 12:16 GMT today. NZD/JPY traded close to its opening rate of 84.63 after rallying to 84.87 earlier.
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