NZ dollar rises on weak US figures

The New Zealand dollar made a late run against the United States currency, which had earlier slumped to a 15-month low caused by weak United States home building sentiment.

Selling interests failed to stop the NZ dollar's push above US71c.

Around 5.30pm yesterday, the kiwi was buying US71.16c, up from its morning level of US70.68c which, in turn, was little changed from late Monday afternoon.

Overnight it sank to US70.30c, its lowest level in nearly a fortnight.

The kiwi eased to A81.07c against a firmer Australian dollar in the wake of minutes released from a Reserve Bank of Australia rate-setting meeting earlier in July.

The Australian dollar jumped after RBA governor Glenn Stevens said the global outlook was increasingly uncertain, though there were some positives for the Australian economy.

The RBA had left rates steady at 4.5 per cent, and said it was waiting for more data before deciding what to do at its next rates meeting, in August.

The aussie was almost US1c higher at US87.77c from its level late on Monday afternoon.

The trade weighted index rose to 66.82 from 66.59 on Monday. The US dollar continued to flirt with Saturday's seven-month low against the yen, despite being bid up by Japanese importers, amid speculation about government intervention in the Japanese currency.

- NZPA