The New Zealand dollar consolidated at higher levels today and over the week was the best performing in the world, according to BNZ.The NZ dollar was at 71.52USc at 5pm, little changed from 71.48USc at 8am and up 71.33USc at 5pm yesterday. It has risen fr
The New Zealand dollar consolidated at higher levels today and over the week was the best performing in the world, according to BNZ.
The NZ dollar was at 71.52USc at 5pm, little changed from 71.48USc at 8am and up 71.33USc at 5pm yesterday. It has risen from 69.98USc last Friday.
"Since this morning we've gone sideways. It is a case of pausing for breath, the kiwi's actually been the strongest performing amongst the major currencies this week," said Mike Jones, currency strategist at BNZ.
He said there was no major data out in the US tonight so the consolidation phase could continue.
"It is just going to be continued sentiment-backed trading on the back of the Greek crisis," he said.
The NZ dollar climbed to a two-year high against the euro on Thursday night, as worries persisted about Greece's debt problems. It peaked at €0.5256 early today, according to Reuters data, and by 5pm was €0.5248, up from €0.5199 yesterday.
Against the Australian dollar, the NZ dollar reached a 2-1/2-week high of 77.77Ac overnight, from 77.28Ac at the local close, and by 5pm today was at 77.56Ac.
The NZ dollar is trudging away from its lowest level against the aussie in more than nine years, 76.10Ac, reached a fortnight ago.
The kiwi was at ¥64.68 at 5pm from ¥64.33 yen yesterday.
The trade weighted index rose to 65.93 at 5pm from 65.59 at the same time yesterday.
