11:15 AM
A brief rally by the New Zealand dollar this morning has proved short-lived.
The kiwi has now dropped back under the US 43 cent mark as the American currency strengthens and the Australian dollar weakens.
The release of this morning's National Bank Business Confidence survey sparked some buying interest, but that did not last long.
Dealers say the short-term outlook for the Kiwi remains negative, thanks to the strength of the American dollar and the state of the New Zealand economy.
One analyst describes the kiwi dollar as "a nasty little currency."
- IRN
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