NZ dollar makes Aussie-inspired gains against US dollar
The New Zealand dollar made a late run against the US currency, which had earlier slumped to a 15-month low due to weak home-building sentiment.Selling interest failed to stop the NZ dollar's push above 71USc. Around 5.30pm today, the kiwi was buying 71.1
The New Zealand dollar made a late run against the US currency, which had earlier slumped to a 15-month low due to weak home-building sentiment.
Selling interest failed to stop the NZ dollar's push above 71USc. Around 5.30pm today, the kiwi was buying 71.16USc, up from its morning level of 70.68USc, which in turn was little changed from late yesterday afternoon.
Overnight it sank to 70.30USc, its lowest level in nearly a fortnight.
The kiwi eased to 81.07Ac against a firmer Australian dollar in the wake of minutes released from a Reserve Bank of Australia rate-setting meeting earlier in July.
The Australian dollar jumped after RBA governor Glenn Stevens said the global outlook was increasingly uncertain, although there were some positives for the Australian economy.
The RBA had left rates steady at 4.5%, and said it was waiting for more data before deciding what to do at its next rates meeting, in August. The aussie was almost 1USc higher at 87.77USc from its level late yesterday afternoon.
The NZ dollar was a touch firmer at €0.5461 from €0.5478, having troughed at a nearly two-month low of around €0.5420 overnight.
The kiwi was buying ¥61.94, up from ¥61.27 yesterday, and rose to 46.60p from 46.17p.
The trade weighted index rose to 66.82 from 66.59 yesterday.
The US dollar continued to flirt with Friday's seven-month low against the yen despite being bid up by Japanese importers, amid speculation about government intervention in the Japanese currency.
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