NZ dollar finishes year at US77.10c
The New Zealand dollar finished for 2010 today at a five-week peak after with a continued rise in its key exchange rates in the illiquid year-end market.
The New Zealand dollar finished for 2010 today at a five-week peak after with a continued rise in its key exchange rates in the illiquid year-end market.
The NZ dollar was at US77.10c at 5pm, compared with US76.71c at close yesterday.
It has been driven by a range of factors at year-end, including firm commodity prices, risk appetite and a widening in the spread between New Zealand and United States interest rates after yields fell in the United States.
The NZ dollar has not performed as spectacularly as the Australian dollar, but has gained around 6 percent against the greenback this year, and was up 15 percent against the euro, and 11 percent against sterling, but down nearly 7 percent on the yen. The cross-rate against the euro was 57.99, and against the British pound 49.93p.
Today the NZ dollar pushed higher against the soaring Australian dollar, though trading was very light: those traders not already on their way to the beach were mostly squaring off before the end of the calendar year.
The New Zealand dollar was at A75.85 at 5pm compared with A75.40c at yesterday's fix, even though the Aussie has stayed within sight of its 28-year high against the US dollar.
The NZ dollar was also up against the yen at 62.84, compared with 62.44 yen at 5pm yesterday. At this time last year, the trade weighted index was 66.31.
NZPA and NBR staff
Fri, 31 Dec 2011
Fri, 31 Dec 2011
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NZ dollar finishes year at US77.10c
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