The New Zealand dollar drifted lower today, particularly against an Australian dollar boosted by strong employment data.Weakness in the euro on concerns about Greece's finances, and a weak performance by Wall Street added to a negative tone.The NZ dollar
The New Zealand dollar drifted lower today, particularly against an Australian dollar boosted by strong employment data.
Weakness in the euro on concerns about Greece's finances, and a weak performance by Wall Street added to a negative tone.
The NZ dollar was 70.46USc at 5pm, down from 70.77USc at 8am, but little changed from 70.45USc at 5pm yesterday. It had risen to 70.90USc on Wednesday night.
"Kiwi, when we came in, was around 70.70USc but the Dow turned negative. The euro and sterling were weaker as well and that didn't help," one dealer said.
The NZ dollar fell to 75.91Ac at 5pm from 76.01Ac at the same time yesterday after firm jobs data in Australia today. The cross rate had touched a nine-year low around 75.5Ac this week.
The 19,600 jobs added in Australia in March was in line with market expectations of a 20,000 rise as was the 5.3% unemployment rate but the 30,100 rise in full time employment was higher than expected.
"There's been a bit of a play on the aussie cross," one dealer said.
The euro fell to its weakest level in two weeks and was near its low for the year as investors were again worried about debt levels in Greece.
The NZ dollar rose to €0.5283 at 5pm from €0.5264 at the same time yesterday.
The NZ dollar fell to ¥65.65 at 5pm from ¥66.34 yesterday.
The trade weighted index was 65.61 at 5pm from 65.60 yesterday.
