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MSN: The New Zealand dollar had a volatile session but ended slightly below where it started.
 
Dealers said factors on the day included volatile commodity prices and news of the death of terrorist Osama bin Laden.

The direction of the US dollar remains a major factor in the market, but locals are also waiting for the Reserve Bank of Australia interest rate decision tomorrow. It is expected to hold its benchmark rate at 4.75 per cent.

The NZ dollar was at US80.62c at 5pm on Monday, from US80.94c at 8am and US80.08c at 5pm on Friday. It briefly topped US81c to reach a new three-year high on Saturday.

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Dealers said the NZ dollar came under pressure when the silver market plunged in early Asian trading on Monday, sparking concerns about commodity prices.

The Australian dollar recovered from a sharp fall in response to the silver price to rise past $US1.1000 for the first time since 1982. It was at $US1.0939 by 5pm on Monday from $US1.0898 at the same time on Friday.

The NZ dollar was at A73.63c at 5pm on Monday from A73.46c at the same time on Friday.
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