The New Zealand dollar bounced back this afternoon, after falling against the greenback as the US market was affected by US President Barack Obama's plan to curb bank risk-taking.The NZ dollar also lost ground on the wake of uncertainty about the future o
The New Zealand dollar bounced back this afternoon, after falling against the greenback as the US market was affected by US President Barack Obama's plan to curb bank risk-taking.
The NZ dollar also lost ground on the wake of uncertainty about the future of Federal Reserve chairman Ben Bernanke, which also took a toll on US markets.
But the Kiwi dollar was buying 71.49USc around 5pm higher than the 70.95USc this morning, and US71.30c at 5pm Friday.
The dollar was at 78.96Ac, compared to 78.86Ac Friday. Against the euro, the kiwi rose to €0.5050, stronger than €0.5014 at around 10am, a new low for the year, and €0.5046 at Friday's close.
The NZ dollar was at ¥64.50 from ¥64.06, and against the British pound, it stood at £0.4440, compared with £0.4395 on Friday.
The trade weighted index slightly rose from 65.04 at 5pm on Friday to 65.21 at around 5pm today.
Westpac strategist Imre Speizer said the NZ dollar would continue to be affected by an aversion to risk.
He said the euro had been helped by stronger European industrial orders and a bond issue by Greece, while the yen had benefitted from the uncertainty.
