- Monday proved a weak start to the week for southern hemisphere currencies as the New Zealand dollar tumbled over 1%, reaching new two-month lows against the stronger US dollar. This was not due to specific weaknesses from New Zealand, but because support remains high for the American currency after Friday’s jobs reports showed a drop in unemployment and that 223,000 jobs were added.
- The Australian dollar also suffered at the hands of the strong US currency. Despite data showing that Australian business confidence remained unchanged in April, the Australian currency still receded almost half a percent.
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