The New Zealand dollar closed at the lowest levels in a year but held above the 2013 lows. The euro was the top performer Monday while the Aussie lagged along with the kiwi dollar. It's a major day for Japanese economic data with reports on jobs, industrial production and retail sales due. 2 new Premium NZD trades have been issued ahead of the upcoming NZ data.
Intervention talk in New Zealand is the major theme in the FX market to start the week. NZD/USD fell as low as 0.7707 in Asia-Pacific trading as the market digested evidence that a deliberate RBNZ attempt is underway to cripple the kiwi.Support at the 2013 low of 0.7689 wasn't seriously challenged and the pair bounced as high as 0.7795 before settling near 0.7765 at the end of US trading.