Kiwi dollar lower

The New Zealand dollar edged lower against the greenback as mixed economic reports from around the world left traders guessing about the underlying health of the global economy.

By 8am today the kiwi was buying US68.43c from US68.65c at 5pm on Friday.

ANZ bank said the NZ dollar ended the week looking a little sheepish, as investors appeared to flock to better alternatives.

Election results from Japan would be the main menu for Asian markets today, ANZ said.

Japanese voters swept the opposition Democratic Party of Japan to a historic victory, ending a half-century of almost unbroken rule by the Liberal Democratic Party.

The kiwi was down against the Australian dollar, near the week-low at A81.26c by the local open today, from A81.82c at Friday's local close.

The NZ dollar was buying 0.4782 euro at 8am today, little changed from the 5pm Friday level, and was down to 63.86 yen from 64.30. The trade weighted index was down to 63.43 at 8am from 63.66 at 5pm on Friday.

The US dollar rose against the yen and euro in light trade.

Data showing Japanese deflation and unemployment at record levels and a sharp slide in household spending kept the yen under pressure.

European shares were at a 10-month closing high, while a rise in oil prices helped lift the Australian dollar, as did expectations that Australian interest rates will rise by year end.

But the euro fell along with US stocks, which dipped after data showed US consumer confidence fell to its lowest level in four months, sowing doubt about a US recovery.

- NZPA