Currency Note Worldwide

New Zealand dollar weakens

By Smart Currency October 28th, 2013

Elsewhere on Friday, the Canadian dollar continued to weaken hitting the lowest levels since February 2010 against sterling following an announcement from the Bank of Canada on Wednesday. The central bank announced plans to adopt a more accommodative monetary policy, whilst keeping interest rates at 1%, which triggered a sell-off of the currency. This also coincided with crude oil, Canada’s biggest export, seeing the biggest weekly decline in price since June this year. The New Zealand dollar also fell against all of its 16 main trading peers, completing its biggest weekly loss against its Australian counterpart in more than a year as its central bank signalled that it will not raise interest rates come the decision on Wednesday evening. Other events this week include a statement from the governor of the Reserve Bank of Australia late this evening, as well as building approvals, business confidence and quarterly inflation data later in the week. We also have GDP figures out of Canada and a monetary policy statement from the Bank of Japan. Get in touch with your trader for a live rate.