After a series of rises in the last fortnight,the New Zealand dollar has continued slipping as markets wait for the Reserve Bank's interest rate decision on April 30.
At 8am today the kiwi was buying US56.72c, down from US57.10c at 5pm on Friday. Early on Saturday it reached a fortnight low around US56.50c.
By today's local open the kiwi was also down to around its lowest level in nearly six weeks against the Australian dollar at A78.41c, from A79.40c at the local close on Friday.
ANZ bank said that while the aussie had held its ground, the NZ dollar took somewhat of a battering as the market looked to test the downside.
The kiwi topped out last week at US57.37c.
The kiwi was also down to 0.4343 euro at 8am from 0.4362 at 5pm on Friday, and down to 56.24 yen from 56.80. The trade weighted index was 56.50 at 8am from 56.94 at 5pm on Friday.
- NZPA
<i>Currency:</i> NZ dollar slipping lower
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