The NZ dollar slipped slightly against the greenback and the aussie after record trade deficit figures were released today.
At 5pm today the kiwi was buying US68.76c, from US68.98c at 9.30am before the data was released and US68.80c at 5pm yesterday
Against the aussie the kiwi was buying A91.97c from A92.27c, at 9.30am and A92.37c at 5pm yesterday.
The trade deficit for the month of November was $1.205 billion, or 46.6 per cent of exports -- the highest monthly deficit for any month on record. Economists had been tipping a November deficit of $795 million.
The annual trade deficit for the year to November was $6.645 billion, or 21.6 per cent of exports.
The US dollar steadied today after broad weakness following signals from the US Federal Reserve that its 1-1/2 year rate rise campaign was nearing completion.
The Fed is widely expected to raise rates for a 14th straight meeting at the end of the month, taking its key rate to 4.5 per cent.
But a recent raft of lukewarm US economic data has convinced many market participants that the central bank may think twice about raising rates beyond that, which could put the US dollar under further selling pressure.
The following are Reuters currency rates:
5pm today 5pm yesterday
NZ dlr/US dlr US68.76 US68.60
NZ dlr/Aust dlr A91.97 A92.37
NZ dlr/euro 0.5682 0.56.85
NZ dlr/yen 79.91 79.40
NZ dlr/stg 39.14 39.18
NZ TWI 70.29 70.23
Australian dollar US74.73 US74.29
Euro/US dollar US1.2100 US1.2067
US dollar/yen 116.21 115.71
- NZPA
<EM>Currency:</EM> Kiwi slips slightly on record trade deficit
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