Currency: Dollar makes small again on US

The New Zealand dollar closed the financial quarter on a strong note, making up ground this afternoon and eying US57c.

By 5pm, the kiwi was at US56.82c from US56.46c late yesterday afternoon, having slipped back towards US56c earlier today.

Against the Aussie, the kiwi was at A82.54c, up from A82.06c yesterday. It was also stronger against the euro, yen and sterling.

The currency was subdued until early afternoon on the back of weaker United States equities, said Westpac senior market strategist Imre Speizer.

It also reflected a rise in the US dollar on further fears about US car makers General Motors and Chrysler.

After lunch, the kiwi spiked about half a US cent on demand for currencies at Japan's end of financial year.

Comments from the Reserve Bank of Australia, and continued negativity in the National Bank Business Outlook, had little effect on the kiwi, Mr Speizer said.

He tipped an overnight range for the currency of US56.40-US57.20c.

The US dollar and euro rose against the yen, also buoyed by Japanese investors' demand on the last day of Japan's financial year.

The greenback was also supported as a safe haven amid risk aversion that battered other currencies such as the euro and kiwi the previous day.

Currency rates:

5pm today 5pm yesterday

NZ dlr/US dlr US56.82c US56.46c

NZ dlr/Aust dlr A82.54c A82.06c

NZ dlr/euro 0.4288 0.4253

NZ dlr/yen 55.88 55.18

NZ dlr/stg 39.69p 39.61p

NZ TWI 57.03 56.59

Aust dlr/US dl 68.89c 68.75c

Euro/US dlr 1.3262 1.3269

US dlr/yen 98.27 97.79

- NZPA