New Zealand dollar extends its losses for the fourth straight session

NZD levels declined during trading on Wednesday against the US dollar for the fourth consecutive session, comes in light of declining demand for the New Zealand currency due to investors risk aversion in the global financial markets.

New Zealand dollar against the US dollar declined during the Asian session today at the level of 0.6742, recording the lowest level of  0.6734, and it opened today's session at the level of 0.6748, before recording the highest level the day at 0.6770, comes after it fell yesterday to its lowest level at 0.6721.

The current decline in the New Zealand dollar against the US dollar comes under the demand for the New Zealand currency fell due to expectations that the central bank of New Zealand on its way to a further reduction in interest rates to face the consequences of growth and low inflation.

On the other hand, the dollar continued to rise against major currencies in today's trading, in light of the continued correction in the dollar levels, initiated since the end of last week after falling to its lowest level in five months after the Fed meeting.

The dollar index, which tracks the dollar's performance against a basket of major currencies, rose today to its highest level at 95.71, after the session opened today at the level 95.62 to currently trade at the level of 95.69 after hitting the lowest at 95.61 comes after rising yesterday to its highest level at 95.74.