Kiwi dollar jumps back against Aussie
"The Australian dollar is among the worst performing major currencies," a BNZ currency strategist says.
"The Australian dollar is among the worst performing major currencies," a BNZ currency strategist says.
Wall St and European shares fell overnight as fears about the Chinese share fire sale and its economic outlook grows.
The dollar fell as commodity prices dropped on concern about waning demand.
Business confidence has fallen to a three-year low, led by regions like Waikato, Canterbury and Southland particularly exposed to the dairy sector.
The country's business confidence plunged as companies became pessimistic about profitability expectations.
The kiwi dollar was little changed overnight as traders awaited further developments in Greece.
The Greek rejection of the creditor bailout package has lead to a fall in world shares, oil and the European currency.
Greece’s “no” vote on austerity measures lead to a tumultuous day of trading across equity markets – including New Zealand and Australia.
Auckland housing affordability has fallen 10.2pc in the quarter - and 25 per cent over the previous 12 months.
World stockmarkets have moved only slightly overnight, as the news from Greece changes minute by minute.
World shares have slumped on concern Greece is headed for default and exit from the euro zone.
Wall St moved lower overnight with European equities as the posturing between Greece and its international creditors continued.
The New Zealand dollar rose from a five-year low as investors weighed up the outlook for the US economy and interest rate increases.
Global shares traded in a narrow range overnight as investors assessed data pointing to a brighter outlook and awaited Greek bailout news.
The New Zealand dollar hit a fresh five-year low as traders firm up expectations for more interest rate cuts.
Wall Street rose overnight, pushing the Nasdaq to a record, amid optimism Greece and its international lenders are finally nearing a deal.
The dollar jumped briefly above 70 US cents after the US Fed Reserve pulled back its projections for future interest rate rises.