Kiwi trading at 0.5550 US cents to the dollar. Photo: 123rf
The New Zealand dollar is under pressure and trading at a more than two-year low against the US dollar at 0.5550 US cents.
The US dollar is trading at a two-year high, following December's much stronger than expected United States employment report, with this week's inflation data also expected to exceed the US Federal Reserve's target.
The US economy added 256,000 jobs in December, which is 60 percent up on the 160,000 estimate, while the unemployment rate fell to 4.1 percent.
The Kiwi is trading at levels last seen in October 2022, with the Australian dollar also trading at two-year lows against the US dollar at 0.6147 US cents, with most other major currencies at multi-month lows.
Westpac currency strategist Imre Speizer said the Kiwi was vulnerable to fresh lows, with potential to test March 2020's low of 0.5470 US cents over the next one-to-three months.
The Kiwi starts the week around 0.9050 Australian cents.
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