NZ dollar weakens as commodity prices fall
The dollar fell after signs of weaker Chinese manufacturing activity dented demand for commodity currencies.
The dollar fell after signs of weaker Chinese manufacturing activity dented demand for commodity currencies.
The New Zealand dollar held onto some of its gain after the Reserve Bank yesterday cut the benchmark interest rate.
I could never be a currency trader. Uncertainty exists in all markets, but in currency markets you can be certain about very little.
The New Zealand dollar has fallen ahead of the Reserve Bank's expected interest rate cut this morning.
The dollar advanced as traders who had bet on the currency's decline took profits ahead of the tomorrow's interest rate decision.
The NZ dollar has been trading around 65 US cents, which the Prime Minister has previously called the "Goldilocks" level.
The dollar has since consolidated after a slump in dairy prices and benign inflation stoked expectations of interest rate cuts.
The NZ dollar weakened as Greek agreement turned investor attention to US interest rate hikes, supporting greenback.
The lower kiwi will benefit exporters such as Delegat which counts the US as its largest market.
The dollar weakened as Eurozone leaders stepped up their demands for Greece reforms at meetings over the weekend.
The rout in the New Zealand dollar appears to be over, for the moment at least.
The dollar was little changed as risk sentiment improved following a bounce in Chinese equities and new Greece proposals.
"The Australian dollar is among the worst performing major currencies," a BNZ currency strategist says.
The dollar fell as commodity prices dropped on concern about waning demand.
Why are the Germans and other creditors determined to force the Greeks into such a damaging dead end? The answer is they care little for the travails of the Greek people, writes Brian Gould.
The kiwi dollar was little changed overnight as traders awaited further developments in Greece.
The dollar hits a five-year low as Greeks reject austerity in referendum.
Currency traders will be on tenterhooks this week as the Greek sovereign debt crisis goes from bad to worse, with more downward pressure likely to come on the Kiwi dollar.
The kiwi dollar has fallen gain, as the Greece debt crisis pushes investors into 'safe havens".
The New Zealand dollar rose from a five-year low as investors weighed up the outlook for the US economy and interest rate increases.
The full impact of the New Zealand dollar's decline over the past few weeks will take time to work its way into the economy.
A sagging New Zealand dollar will provide an extra boost to the tourism industry, still glowing from a record summer season.
Currencies tend to act like a country's share price, falling to reflect a worsening outlook and rising when things start to look brighter, says Mark Lister.