The New Zealand currency lost ground against its major counterparts in early Asian trading on Monday. The kiwi fell to a 4-day low of 0.5659 against the greenback and 55.51 against the yen by 7:35 pm ET. Paring its recently hit multi-month gains, the NZ dollar declined to 2.344 against the euro by this time. The kiwi that closed last week's deals at 0.5695 against the greenback, 55.75 versus the yen and 2.3369 against euro is currently trading near 0.567, 55.65 and 2.341, respectively.
Latest economic report from the Statistics NZ showed that the number of building permits issued in New Zealand was up 11.6 percent in February compared to the previous month. That follows a revised 13.0 percent monthly decline in January - which was originally reported as -13.1 percent on month.
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