The New Zealand dollar was denied a rebound yesterday after Tuesday's aussie-related hammering, a single big seller quashing any lift on the back of a recovering Australian dollar.
The kiwi finished weaker at 39.45USc from 39.67c on Tuesday, but the aussie bounced up to 52.05USc from a fresh record low on Tuesday at 51.10c. The aussie closed Tuesday at 51.54c.
"The kiwi is finding its feet at the moment but I don't think it's really going to kick on," a local currency dealer said.
On Tuesday it lost almost three-quarters of a cent as it tailed its Australian counterpart down.
The local unit yesterday morning appeared to mount a recovery, running as high as its eventual closing level, but then the seller moved in, pushing it as low as 39.25c.
The kiwi lost further ground on the aussie cross, finishing at 75.81Ac from 76.97c on Tuesday.
News agency Reuters reported London analysts as saying investors would be wary of buying the Australian dollar after its slide to record lows in the face of good news on the trade front.
In Tokyo, the euro held overnight gains after intervention hints from European and American officials. However, as the afternoon wore on selling pressure re-emerged.
Today, local traders will be watching for the release of the Household Labour Force Survey.
- NZPA
<i>Currency:</i> : Lone seller halts kiwi rebound
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