Monday in Asia, the Australian and the New Zealand dollars plummeted against their most major counterparts as a slide in Asian equities dented demand for higher-yielding currencies.

The mood remains quite cautious in markets across the Asia-Pacific region today following a weak close on Wall Street on Friday and a decline in oil and commodity prices. Though some of the markets in the region are seeing some selective buying, the gains are not any significantly pronounced. Concerns about inflation in some parts of the globe and debt worries in Greece are also weighing on sentiment.

Australia’s S&P 200 index and the All Ordinaries index fell 0.8% each. Hong Kong’s Hang Seng slipped 1.7%, China’s Shangai composite index declined 0.2% and South Korea’s Kospi dropped 0.95%.

The NZ dollar weakened against the currencies of US, Japan and Australia in Asian deals on Monday. At 11:45 pm ET, the kiwi fell to 6-day lows of 0.7056 against the greenback, 63.85 against the yen and 1.2964 against the Aussie, compared to Friday’s close of 0.7090, 64.21 and 1.2947, respectively. The next downside target level for the kiwi is seen at 0.700 against the greenback, 63.0 against the yen and 1.311 against the aussie. As of now, the kiwi is worth 0.7062 against the greenback, 63.89 against the yen and 1.2960 against the aussie.
 
The NZ dollar slipped to a 4-day low 1.9175 against the euro in early Monday Asian deals at 5:20 pm ET. Although the kiwi recovered thereafter, it pulled back again after reaching a high of 1.9112 by about 9:45 pm ET. At present, the euro-kiwi pair is worth 1.9145, compared to last week’s close of 1.9105. If the kiwi drops further, it may likely target the 1.926 level.

During Asian deals on Monday, the Australian dollar slumped against the US currency. At present, the aussie-greenback pair is trading at a 6-day low of 0.9128 with 0.910 seen as the next downside target level. The pair closed last week’s trading at 0.9170.

The Aussie also plunged to a 6-day low of 82.62 against the yen in early Monday Asian deals at 11:50 pm ET. The next downside target level for the aussie is seen at 82.4. Currently, the aussie-kiwi pair is worth 82.72, compared to Friday’s closing value of 83.03.

The Aussie that plummeted to a 4-day low of 1.4810 against the euro in early Monday Asian trading at 5:15 pm ET rebounded thereafter and largely traded in a loose range. As of now, the euro-aussie pair is worth 1.4793. The pair closed last week’s deals at 1.4771.

In Asian deals on Monday, the Aussie bounced between 0.9285 and 0.9310 against the Canadian dollar. The next downside and upside target levels for the aussie-loonie pair are seen around 0.926 and 0.938, respectively. The pair that closed last week’s trading at 0.9323 is presently worth 0.9299.

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