New Zealand dollar/U.S. dollar is weak and focus shifts to Europe

Greg Gibbs, currency strategist at Royal Bank of Scotland (RBS), said that the NZD/USD opened lower today due to persistent concerns about the European debt crisis.

He added that the NZD/USD has rebounded from the early low of 0.8408, but there is no real news, so the deal is unusually light.

He said that the fall in Asian equities also seriously affected investor confidence. The US market is closed today due to holidays. This means that most of the focus is on Europe. There are many things that may touch the market nerves.

He estimates that the NZD/USD is at 0.8400 and the resistance is at 0.8500.

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