The New Zealand dollar rose today against an Australian dollar that tumbled in reaction to comments from Reserve Bank of Australia governor Glenn Stevens.Against the greenback, the NZ dollar was settled. By 5pm it was 71.10USc, little changed from 71.14US
The New Zealand dollar rose today against an Australian dollar that tumbled in reaction to comments from Reserve Bank of Australia governor Glenn Stevens.
Against the greenback, the NZ dollar was settled. By 5pm it was 71.10USc, little changed from 71.14USc at 8am and 71.06USc at 5pm yesterday.
On Thursday night it stayed within the 71.40-70.70USc range where it has been almost all this week.
The Australian dollar fell to be 92.22USc at 5pm from 92.70USc at the same time yesterday.
Traders focused on a comment that Australian interest rates were "pretty close" to average, said Imre Speizer, senior market strategist at Westpac.
He said the NZ dollar was relatively stable while the action was elsewhere.
But people were starting to think that Australia was moving to a more even keel in interest rate policy when the New Zealand was about to embark on a tightening cycle.
The NZ dollar was at 77.07Ac at 5pm from 76.60Ac at 8am and 76.59Ac at 5pm yesterday.
The NZ dollar reached new 26-month highs against the euro today after the European Union said Greece's budget deficit was worse than feared and Moody's cut its rating of Greek government debt.
Around 5pm it was €0.5371, up from €0.5305 at the same time yesterday. It traded as high as €0.5380 today.
The NZ dollar was at ¥66.39 by 5pm from ¥65.97 yesterday.
The trade weighted index rose to 66.37 at 5pm from 65.96 yesterday.
