The Asian currencies continued its downside movement versus the major counterpart the greenback, where the New Zealand currency, nicknamed the Kiwi, dropped versus the US dollar as the New Zealand economy damaged from a magnitude 5.5 quake yesterday, caused to injure several people and shut some buildings.
Moreover, the NZ dollar dropped as The New Zealand REINZ housing price dropped by 1.8% as the number of properties 3186.2 in May, from a previous incline by 1.1% that reached to 3245.4 during March.
The NZD/USD pair ended Monday's session with a decline movement, which recorded the lowest level 0.8114, while it continues its downside movement.
On the other hand, the Australian dollar also slumped against the greenback as the global economy is losing momentum due to the European debt crisis is escalating along with the sluggish US economy, pushed investors to avoid buying higher yielding currencies like the Aussie.
Meanwhile, the investors are still waiting fundamental data that will confirm the Australian economy is to record an expansion during the second quarter after the first quarter contraction. The AUD/USD pair started today's session with a drop-side movement.
At the meantime, the USD/JPY pair traded in a narrow range with the beginning of the week on Monday, where both currencies gained against other majors as concerns about the global economy drove investors to invest in low yielding currencies like the dollar and the Japanese yen.