Kiwi tumbles to three-week trough

The New Zealand dollar fell to a three-week low against the U.S. dollar as the greenback muscles up against a basket of rivals, while commodities fall and gold demand wanes, sapping the kiwi of any support this week.
 
NZD/USD last traded at 0.7170, down from the opening of 0.7191, with an intraday high at 0.7218, and a low at 0.7156.
 
The dollar rose today to a three-week high against a basket of currencies, heaping pressure on the kiwi, specially as commodity prices decline.
 
Gold prices opened the week lower as Wall Street hit fresh record highs, nudging investors away from safe havens like gold and hurting the kiwi, a commodity currency in its essentials.
 
The dollar index, tracking the greenback against a basket of major rivals, inched up to 101.05 from the opening of 100.97, with a session-high at 101.11, and a low at 100.57, with the index setting a three-week high.