The New Zealand Dollar (NZD) slides lower against the US Dollar (USD) on Tuesday, with NZD/USD slipping to 0.5910 in early American trading hours.
The Pound Sterling (GBP) rises to near 1.3380 against the US Dollar (USD) during European trading hours on Tuesday. The GBP/USD pair gains for a second consecutive day as the US Dollar continues to suffer due to a one-notch downgrade in the United States (US) sovereign credit by Moody’s Rating.
The Mexican Peso (MXN) remains firm against the US Dollar (USD) as markets react to renewed uncertainty following Moody’s downgrade of the US credit rating. The decision to lower the sovereign rating to AA1 from AAA has prompted a reassessment of the US Dollar’s status.