AUD/NZD drops to lowest since 1997

FXStreet (Córdoba) - The AUD/NZD pair dropped below 1.0430 and fell to 1.0419 just slightly below 2006 lows, hitting levels not seen since 1997.

Afterwards the pair bounced to the upside and it was trading at 1.0435, flat for the day. Before hitting fresh lows AUD/NZD was capped by the 1.0455 area.

Yesterday the aussie lost ground for the fourth day in a row against the kiwi and is headed toward the ninth consecutive weekly decline. Both currencies are rising against the US dollar on Tuesday, but the kiwi is outperforming.