The New Zealand dollar drifted off a one-week high around 72.70USc today as investors waited for stress test reports from European regulators.It surged on Thursday night after strong euro zone economic data and US corporate earnings rekindled investors' a
The New Zealand dollar drifted off a one-week high around 72.70USc today as investors waited for stress test reports from European regulators.
It surged on Thursday night after strong euro zone economic data and US corporate earnings rekindled investors' appetite for risk.
By 5pm the NZ dollar was at 72.42USc, little changed from the 72.45USc at 8am and up sharply from to 71.32USc at 5pm yesterday.
Attention is also turning to next week's official cash rate decision by the Reserve Bank of New Zealand.
The NZ dollar pushed to its highest level in a week against the European currency early today, around €0.5635, from €0.5580 at 5pm yesterday. By 5pm today it was €0.5616.
Data showed surprisingly robust growth in European manufacturing and services, but there was also uncertainty ahead of European bank stress test results.
Similarly, the NZ dollar reached a one-week high around ¥63.30, easing to ¥62.93 by the local close, having climbed from ¥61.64 at 5pm.
The NZ dollar fell to 81.16Ac against the Australian dollar at 5pm from 81.31Ac yesterday.
The trade weighted index rose to 67.90 from 67.26 yesterday.
