Currency talk: Kiwi still falling; Aussie and loonie too
The kiwi dollar has started 2016 on a slippery slope, dropping almost 4c against the US dollar.
Global volatility has been to blame for much of the kiwi dollar's fall, with both China and the US giving investors jitters.
When global volatility occurs, it is often the commodity currencies that feel the biggest burn, NZ Forex head of corporate finance Alex Hill says.
He says it’s not just the New Zealand dollar which has been hammered as the Australian and Canadian dollars have both taken a tumble too.
“All of the commodity currencies have felt the pain and the US dollar has been strengthening as everybody tends to fly to the US dollar as a safe haven,” he says.
More volatility is expected for the remainder of the month.
Despite this, there are still a few pieces of economic data due to be released this week that will affect the value of the kiwi.
Mr Hill says the GlobalDairyTrade and the consumer price index figures will be key pieces of data to watch out for.
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