The New Zealand dollar pushed higher against the US dollar today and was little changed on many other crosses.
The rise came as the US dollar slipped from its recent highs and as analysts continued to cite the recovery in confidence in the National Bank business outlook survey
yesterday.
The New Zealand dollar was at US70.56c at 5pm, up from US70.25c at the same time yesterday.
Bank of New Zealand currency strategist Danica Hampton said the NZ dollar was knocked from its recent highs against the greenback after stronger than expected US durable goods data gave the US currency a bit of a boost.
But the US dollar tumbled from six-month peaks against the euro as comments by a European Central bank official rekindled speculation about an interest rate increase in the euro zone to quell persistent inflation pressure.
Among other factors affecting the greenback, a research note from Brown Brothers Harriman also said technical conditions warned of a possible sharp US dollar pullback.
The NZ dollar was little changed against the euro to 0.4773, but rose against the yen to 76.99 from 76.55.
The kiwi was little changed against the Australian dollar at A81.41c by the local close from A81.67c at 5pm yesterday, while the trade weighted index was 65.72 at 5pm from 65.57.
- NZPA
