KEY POINTS:
The New Zealand dollar is generally firmer after the latest US bailout reduced risk aversion.
But the currency is struggling to follow through on rallies.
It was US54.75c at 5pm from US54.13c at 5pm yesterday.
The NZ dollar spiked to US55.90c overnight before easing to US54.54c by 8am.
The US dollar fell against the euro and yen as new US measures to boost consumer lending helped ease concerns about the financial crisis, diminishing demand for the greenback as a haven.
"It helped pretty much everything and was the big driver of the last 24 hours," said Imre Speizer, senior market strategist at Westpac.
He said the NZ dollar retreated from its overnight high pretty quickly but there was currently a strong floor around US54c.
After a test of the floor the currency had a look at the top end of its current range but could not push on.
Against the euro, the NZ dollar was little changed at 0.4221 at today's local close from 0.4216 at 5pm, while against the yen the kiwi slipped to 52.05 from 52.17.
The NZ dollar was also at A84.95c against the Australian dollar at 5pm from A84.55c at yesterday's local close. The trade weighted index eased to 55.39 from 55.15.
Currency rates:
NZ dlr/US dlr US54.75c US54.13c
NZ dlr/Aust dlr
A84.95c A84.55c
NZ dlr/euro 0.4221 0.4216
NZ dlr/yen 52.05 52.17
NZ dlr/stg 35.70p 35.84p
NZ TWI 55.39 55.15
Aust dlr/US dlr US64.45c US63.98c
Euro/US dlr 1.2971 1.2834
US dlr/yen 95.06 96.32
- NZPA
