Sharechat Logo

Dollar drops to near decade low against Aussie

Friday 10th December 2010

Text too small?

The New Zealand dollar fell to within a whisker of a 10-year low against an Australian dollar boosted by powerful jobs figures published yesterday.

The kiwi dropped to around A75.60c early today, within about a 10th of a cent of decade lows reached this year. By 8am the NZ dollar was back up to around A76c, slightly stronger than its level at 5pm yesterday.

The NZ dollar was also down to US74.73c at 8am from US74.90c at 5pm, and dropped to 62.52 yen from 62.77, while rising to 0.5644 euro from 0.5629. The trade weighted index slipped to 67.57 from 67.62.

The NZ dollar fell yesterday on a dovish Reserve Bank monetary policy statement, which left the official cash rate at 3%.

Overnight, the euro fell against the US dollar after a ratings agency downgraded Ireland's sovereign debt rating as an opposition party there earlier said it would vote against a bailout package for the debt-laden country.

A larger-than-expected decline in weekly claims for first-time jobless benefits in the United States added to the view that the US economy was gaining traction.

 

NZPA



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

VCT - Operational performance for the year ended 30 June 2024
Challenge to banks the way to go
Bigger returns or lower risk?
NPH - Director Appointment
July 19th Morning Report
Wellington International Airport Ltd (“WIA040”) - Maturity
Devon Funds Morning Note - 18 July 2024
CNU - Commerce Commission releases draft Price Quality decision
Precinct FY24 Annual Results and Webcast Details
Scott Technology appoints new CEO