NZ dollar eases
The New Zealand dollar retreated lower today after rising yesterday and overnight.
The New Zealand dollar retreated lower today after rising yesterday and overnight.
It was at US79.20c at 5pm, down from US79.79c at 8am and US79.54c at 5pm yesterday. For a short time around midnight it topped US80c.
"Kiwi, the aussie and the euro have all given up ground over the session," one dealer said.
They had retreated on rekindled fears about European debt and as many equity markets in Asia faltered.
The NZ dollar had earlier been buoyed by news yesterday that Fonterra lifted its forecast season payout by 10c.
At 5pm the NZ dollar was at A75.56c, which was little changed from the opening level and was up from A75.39c at 5pm yesterday.
It was also little changed at 0.5639 euro from 0.5655 euro yesterday, having peaked at a 15-week high 0.569 overnight.
Traders said the chance that Greece may restructure its debt would keep the euro under pressure and today there was also speculation of a snap election in Greece. Markets were also fretting about the finances of Spain and Italy.
The NZ dollar was at 64.87 yen from 65.05 yen yesterday, while the trade weighted index eased to 69.21 from 69.34.
NZPA
Wed, 25 May 2011
Wed, 25 May 2011
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NZ dollar eases
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