The New Zealand dollar rose against sterling along with other currencies, but weakened from its best levels of the day against the greenback.The NZ dollar was at 69.86USc at 5pm from 69.84USc at 8am and 69.37USc at 5pm on Friday.It firmed above 70USc duri
The New Zealand dollar rose against sterling along with other currencies, but weakened from its best levels of the day against the greenback.
The NZ dollar was at 69.86USc at 5pm from 69.84USc at 8am and 69.37USc at 5pm on Friday.
It firmed above 70USc during the morning but eased on reports that growth in China's manufacturing slowed in February.
"That saw the euro and everything sold off," one dealer said.
Sterling was volatile today on reports that American International Group is negotiating to sell its Asian life insurance business to UK-based Prudential for as much as $US35 billion ($NZ48.52 billion).
If the deal goes through the buyer would have to sell sterling to buy US dollars.
Sterling was also under pressure after a UK political poll suggested a hung parliament .
Sterling fell to a nine-month low against the US dollar and the NZ dollar rose to 46.05p at 5pm, a two-month high, from 45.41p on Friday.
The market is also waiting for a Reserve Bank of Australia decision on interest rates tomorrow.
Economists speculated today that Australia was facing lower than expected December quarter growth figures this week, following poorer than expected current account and business indicators data.
The NZ dollar rose to €0.5130 at 5pm from €0.5106 at the same time on Friday, and up to ¥62.20 from ¥61.96.
Against the Australian dollar, the NZ dollar slipped to 77.80Ac at 5pm from 77.96Ac at Friday's local close, while the trade weighted index was up to 64.66 from 64.37.
