NZ dollar edges higher vs greenback
The New Zealand dollar dipped to a one and a half week low near US80c against the greenback but managed to edge higher early today as risk sentiment rebounded modestly.
The New Zealand dollar dipped to a one and a half week low near US80c against the greenback but managed to edge higher early today as risk sentiment rebounded modestly.
The euro rose as investors bet Greece's parliament would approve a fiscal austerity package needed for the country to receive emergency aid and avoid defaulting on its debt.
A French plan aimed at sorting out how banks will roll over Greek loans to help the troubled euro zone country stay solvent also boosted the European currency.
At 8am today the NZ dollar was buying US80.56c, up from US80.24c at 5pm, while falling to 0.5642 euro from 0.5682.
The kiwi also lifted to A77.19c against the Australian dollar from A77.05c at 5pm, and rose to 65.17 yen from 64.83. The trade weighted index was 70.03 at 8am from 69.99.
ANZ bank said the NZ dollar had tested support levels, but had been unable to find its way under US80c.
Today the kiwi would look overseas for direction, with many recently established short positions in the market becoming frustrated as it stayed out of US79c territory. A squeeze back towards the US80.94c resistance level was possible.
NZPA
Tue, 28 Jun 2011
Tue, 28 Jun 2011
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NZ dollar edges higher vs greenback
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