Forex
NZD Slides Near Two-Month Lows Amid Lower Oil Prices
The New Zealand Dollar (NZD) remains near two-month lows against the US Dollar (USD), despite a brighter market mood, as the sustained reversal in Oil prices has eased risk aversion on Monday.
The NZD/USD pair holds a 4.5% decline from mid-August highs and is unable to take any significant distance from the 0.5700 lows hit last week.
Lower Oil prices, with Brent Crude trading at its lowest levels in nearly two weeks at $97.20, have provided some relief to the New Zealand economy, which is a net Oil importer.