The New Zealand dollar twice tried to push back above US60c for the first time in a week, but both times was quickly sent packing.
By 5pm today the kiwi was buying US58.80c from US59.25c yesterday, after having peaked around US60.30c during the night.
ANZ bank said the
NZ dollar had come off overnight highs as a result of recovering equity markets, US GDP figures that were better than expected, and month-end portfolio rebalancing.
The kiwi did rise against the European currency, and was buying 0.4575 euro at today's local close from 0.4480 yesterday.
ANZ said another bleak assessment from a European Central Bank policymaker had set the scene for rate cuts next week, putting the euro on the back foot.
The NZ dollar was 57.80 yen from 58.40 yesterday and the trade weighted index rose to 59.10 from 58.92 at 5pm.
The kiwi lifted off three-week lows around A86.05c mid-afternoon yesterday, but still made limited progress against its trans-Tasman counterpart to be at A87.27c by 5pm.
Currency rates:
NZ dlr/US dlr US58.80c US59.25c
NZ dlr/Aust dlr A87.27c A86.70c
NZ dlr/euro 0.4575 0.4480
NZ dlr/yen 57.80 58.40
NZ dlr/stg 35.87p 35.75p
NZ TWI 59.10 58.92
Australian dollar US67.34c US68.25c
Euro/US dollar 1.2840 1.3220
US dollar/yen 98.45 98.36
- NZPA
