KEY POINTS:
The New Zealand dollar traded lower today as risk aversion increased.
But it rallied a little after unemployment data was slightly better than expected.
The NZ dollar was at US59.30c at 5pm, down from US60.48c yesterday.
The big story continues to be the massive moves in global financial markets, which are expected to overshadow the outcome of Saturday's national election.
The US stock market tanked overnight, triggering large falls in Asian equity markets on fears of a sharp slowdown in developed economies after grim US economic data.
"It reversed all that good news from Obama the day before," said Jakes Soanes, head of financial market sales at Westpac.
"It again shows that we are in a bear market," he said.
The NZ dollar finished its session around its lows for the day. Dealers said volume was light.
Against a resurgent yen the NZ dollar was 57.98 from 60.35 at 5pm yesterday.
Against the euro, the kiwi slipped to 0.4605 by 5pm from 0.4670, and against the Australian dollar it was A87.98c from A87.20c. The trade weighted index was 59.73 at 5pm from 60.62.
- NZPA
