Kiwi slides to lowest this week

New Zealand dollar fell to lowest this week, following downbeat employment data for the second quarter, while the US dollars continued its two-day rebound. 

The Employment Change dropped 0.2% in the second quarter, compared to the previous upwardly revised reading of 1.1%, while expectations pointed to a 0.7% advance, even as unemployment rate decline from 4.9% to 4.8%.

NZD/USD last traded at 0.7428, up from the opening of 0.7427, with a session-high at 0.7435 and a low at 0.7416.

Weak job reports for second quarter directly affected Kiwi, which reinforced the central bank’s neutral stance and low interest rate.

US dollar recovered from a 15-month low against major currencies for the second day in a row, in turn hurting Kiwi.