Sharechat Logo

NZ dollar pushes higher

NZPA

Wednesday 24th August 2011

Text too small?

The New Zealand dollar pushed back above US83c as better than expected Chinese and German factory data boosted commodity-linked growth-sensitive currencies.

At 8am the kiwi was buying US83.49c, up from US82.70c at 5pm yesterday.

The greenback fell broadly, with the German and Chinese data easing worries about global growth and on expectations the Federal Reserve may ease policy further to stimulate a flagging US economy.

ANZ bank said the NZ dollar had been helped by strong Asian demand, placing a solid base under any potential corrective mood.

Trade figures for July out today should help further "topside exploration" by the kiwi, with overseas equity market performance also helping the move higher.

The NZ dollar moved up to 0.5782 euro at 8am from 0.5757 at 5pm, lifted against the Australian dollar to A79.37c from A79.06c, and rose to 64.03 yen from 63.52. The trade weighted index was up to 71.48 at 8am from 71.02.



  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:

NZ dollar gains on G20 preference for growth
NZ dollar dips as Wellington CBD checked for quake damage
NZ dollar gains, bolstered by RBA minutes, strong dairy prices
NZ dollar falls after central bank says it may scale up currency intervention
NZ dollar gains before CPI, helped by dairy gains, rally on Wall Street
NZ dollar trades little changed as US budget talks bear down on deadline
NZ dollar falls with equities on view US to sail over fiscal cliff
NZ dollar weakens as fiscal cliff looms, long bets unwind
NZ dollar sinks to three-week low as equities fall, fiscal talks in focus
NZ dollar slips as fiscal cliff talks grind slower in Washington