Kiwi takes another leg lower after McDermott comments

Author: Nick Bovell | Category: News

Kiwi now down 115 pips from highs and just above the 0.7250 level.

The move lower accelerated with McDermott's jawboning earlier, where Kiwi initially fell 50 pips immediately on the comments.

The moves in Kiwi also come on the back of some broad-based dollar strength with EURUSD and Cable down 50 and 70 pips respectively.

Next major support comes in at the .72 handle. Highly likely to see a push to there at some point.


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