The was traded at US83.43c at 5pm today after a rise of US83.69c. Last Friday, the NZ dollar hit $US83.84c and it was its maximum gain since November 1981. This week, the NZ dollar was traded between the range of US83.30c and US83.55.
Despite the rise, the NZ dollar fell against the Japanese currency, to 67.38 yen at 5pm today from 67.58 at 5pm on Friday. Market analysts have predicted that the New Zealand dollar may rise above 84 US cents for the first time since the 1985. The rise will help in increasing the local interest rates above their global counterparts.
The Australian dollar fell on greenback, to $US1.0710 at 5pm from $US1.0773 on Friday. The euro fell to its two-week lows against the US dollar in the lead-up to the emergency meeting. As per reports, the European leaders are worried about the debt crisis which was spreading to Italy.
At 5pm, the euro was traded at US1.4193 compared to $US1.4339 on Friday and the yield on Italy’s bond increased. The investors have declared the rise in bonds as risky. The Italian stock market fell 3.5% on Friday, but the financial and bank stocks were on a high.
