NZ dollar regains strength against US

Photo / Dean Purcell

The New Zealand dollar regained strength against the greenback overnight after a sleepy session yesterday.

At 8am the NZ dollar was at US77.06c rising from US76.62c yesterday at 5pm, and US76.84 yesterday morning.

The kiwi rose following a weak US consumer price index report and tinkering by China on inflation fighting measures without hiking rates, ANZ's morning report said.

Today's local producers price index could help lift the NZ dollar further towards US77.50c, though markets would continue their vigilant watch on the Chinese and the European sovereign debt crisis, the report said.

The NZ dollar also rose against other major currencies, sitting at 0.5697 euro at 8am today from 0.5671 euro at 5pm yesterday.

It was at A78.56c this morning against A78.43c yesterday afternoon and at 64.13 yen from 63.87 yen yesterday.

The trade weighted index was 69.22 at 8am from 68.96 at 5pm yesterday.

- NZPA