The Asian equities have dropped to its lowest close since in almost three months, on concern that debt-ridden Greece will default and as reports showed the U.S. economy is cooling, damping the demand for major Asian currencies.
Moreover, the Australian dollar has extend its decline against the counterparts, especially the US dollar, as the European crisis to escalate along with the Australian two-year bond yield slumped 4.75% as concern over slowing growth boosted demand for safer assets, supporting the Aussie to record a downside movement.
AUD/USD slid to record the lowest level at 1.0555, while now trades around 1.0580.
On the other hand, the New Zealand dollar kiwi declined to a three-week low against the greenback after NZ government said the local dollar's strength is hurting the economy, while the demand for the nations' currencies was dented before U.S. data this week likely to indicate growth is losing momentum even after inflation numbers yesterday signaled rising price pressures.
NZD/USD pair recorded the lowest level in more than two weeks at 0.8019, and now trades around 0.8111.