New Zealand dollar is trading near its lowest level in seven weeks

The New Zealand dollar levels fell during the session on Tuesday against the US dollar, trading near its lowest level in seven weeks comes in light of the continued rise in the US dollar against major currencies.

Australian dollar versus the US dollar is currently trading at the level of 0.6718 after recording the highest at 0.6752, and the session was opened today at the level of 0.6794 hitting its lowest level at 0.6717. comes after the pair fell last week to its lowest level in seven weeks at 0.6710.

The New Zealand dollar fell for the second day in a row with the continued cohesion of the US dollar near its highest level in seven weeks, increasing the inverse relationship with the New Zealand dollar.

While the US dollar continues to maintain its gains against major currencies in light of the continued expectations that the Federal Reserve Bank on track to raise interest rates at the next meeting in the month of June which positively affects the levels of the dollar.

The dollar index, which tracks the dollar's performance against a basket of major currencies, is currently trading at 95.36 level after it opened today's session at the level of 95.30, while the lowest level has been recorded at 95.26 after recording the highest at 95.38 comes after the dollar index rose over the past week to record the highest level in seven weeks at 95.51.