The New Zealand dollar drifted lower today after firming and attention is now turning to tomorrow's employment report for the December quarter.The NZ dollar was 71.06US.c at 5pm from 71.26USc at 8am and 70.58USc at 5pm yesterday."The NZ dollar tried
The New Zealand dollar drifted lower today after firming and attention is now turning to tomorrow's employment report for the December quarter.
The NZ dollar was 71.06US.c at 5pm from 71.26USc at 8am and 70.58USc at 5pm yesterday.
"The NZ dollar tried to push higher early in the morning on the back of positive offshore sentiment," said Mike Jones, currency strategist at BNZ.
It headed to 71.30USc but ran out steam and was then knocked lower by reports that some Chinese banks had been downgraded.
"That hit risk appetite a bit and both kiwi and aussie headed steadily lower," he said. "It's been a pretty quite day overall," he added.
Investors took the latest internet auction by Fonterra in their stride.
Overnight the focus will again be on problems with the Greek economy and then on the Household Labour Force Survey for the December quarter tomorrow.
Economists expect and unemployment rate of 6.8% while the Reserve Bank of New Zealand is expecting 6.6% from 6.5% in the September quarter.
The NZ dollar was at 80.23Ac at 5pm from 80.09Ac at the same time yesterday, and was at €0.5089 from €0.5080 and ¥64.21 from ¥64.04.
The trade weighted index rose to 65.44 from 65.20.
