The NZ dollar, nicknamed Kiwi, advanced against the major currencies after the New Zealand economy reported that its consumer confidence has increased in the second quarter as the central bank kept interest rates at a record low to support an economic recovery from the nation's deadliest earthquake in 80 years.

The NZD/USD pair inclined, and now trades around 0.8057 after recorded the highest level at 0.8067 and the lowest level at 0.8041.

on the other hand,today the Australian dollar has dropped against the majors as the European debt crisis to accelerate again, while the European Central Bank has failed to aid the Greece crisis, reducing the demand for higher yielding assets such as the Aussie.

As for the sluggish global economic recovery, the global investors are increasing their demand for safe heaven assets like the Japanese yen, whihc incline against its US major counterpart.