KEY POINTS:
The New Zealand dollar tracked lower today, building on the declines it has posted this year.
The currency continues to trade around 10 month lows and economists continue to call it lower by year-end.
By 5pm it was trading at US72.74c, down from the US73.15c at 5pm yesterday.
The New Zealand dollar has been falling as an easing cycle in interest rates got under way and also as the US dollar recovered.
The US dollar edged up toward a one-month high against the euro on Friday before monthly US jobs data later in the day, which is seen as a hurdle to a sustained recovery in the US currency.
One of the few currencies the kiwi managed to rise against was the aussie, moving from A77.50c at 5pm yesterday to A77.68c today. The crossrate has fallen from A88.50c in January and the BNZ today warned that the factors that have weighed on the cross are beginning to dissipate.
Against the euro, the NZ dollar was buying 0.46.74 at 5pm from 0.4695 at yesterday's local close, while the kiwi was also at 78.30 yen from 78.98.
The trade weighted index fell to 65.35 at 5pm from 65.64 yesterday.
- NZPA
