India, July 6 -- The New Zealand dollar weakened against most major currencies in the European session on Monday, following a drop in global commodity prices in June.
The impact of lessening Middle East tensions and lower oil prices on New Zealand's export commodities is reflected in the 1% drop in the ANZ Commodity Price index in June, which weighs down the Kiwi.
Investors are concentrating on the Reserve Bank of New Zealand's (RBNZ) impending policy announcement.
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