The Kiwi falls as Wall Street close approaches, trading at 0.6816 at the time of writing. US stock indices reflect the upbeat market mood, despite the spread of the newly found strain called Omicron worldwide. In the meantime, New Zealand’s neighbor Australia reported the first Covid-19 Omicron-related death, even though Australia would stick to its reopening plan.
The fall in the New Zealand dollar is connected to broad US dollar strength across the board. The US Dollar index, which measures the greenback’s value versus a basket of its rivals, advances some 0.07% up to 96.09, a headwind for the NZDUSD pair, which sheds some of the last week’s gains.
In the meantime, the 10-yeat US Treasury yield sheds one basis point, down to 1.481%.
That said, an absent economic calendar, as widely expected as financial markets enter the last week of the year, would keep NZDUSD traders dependent on the dynamics of market sentiment, Covid-19 Omicron-related developments, and US fiscal policy pending to be approved by the US Congress.
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