ASB customers should be in line for a drop in their home loan interest rates this month.

The NZ dollar touched 69.41 US cents ahead of the New York close, the lowest level since July 2010.

Major banks are set to drop deposit thresholds for apartments, making it easier for cash-strapped first-home hunters to get a foot in Auckland's rampant property market.

Two more major banks have announced mortgage rate cuts following the Reserve Bank's decision yesterday to lower the official cash rate.

The official cash rate cut to 3.25 per cent the Reserve Bank delivered yesterday and the follow-up one it has clearly foreshadowed may not be all we see this year.

The New Zealand dollar could fall as low as US60c against the greenback this year following today's official cash rate cut, a market strategist says.

The FMA says it's reached the final stages of its investigation into alleged market manipulation at Milford Asset Management.

Kiwis spent more on their electronic cards in May, as increased retailing of consumables offset a flat month.

North South Finance investors will get a better deal in the $10.24 million settlement with its board and the directors of Dominion Finance.

The dollar advanced as the greenback weakened following reports Obama raised concerns of US dollar strength.

The FMA lifted its enforcement action in May, showing it is "increasingly prepared to flex its regulatory muscles", according to one of the country's biggest law firms.

New Zealand shares rose yesterday as investors shrugged off the prospect of higher global interest rates, and bought property stocks.

Dominion Finance and investors will share a $10m payout after receivers and the FMA settled claims.

The dollar may fall this week as traders bet the Reserve Bank could reduce interest rates.

The kiwi touched 70.25 US cents over the weekend, its lowest level since August 2010.

Two successive years of low milk prices will increase pressure on the asset quality of New Zealand banks, says ratings agency Fitch.

The kiwi touched 70.65 US cents in an illiquid market yesterday, its lowest level since August 2010.

The Australian sharemarket has closed lower, retreating after a one-month high on Friday.

The next eight months will be lean for dairy farmers but Rabobank NZ chief Ben Russell says he is confident the downturn will be cyclical and one most farmers can cope with.

House prices in Sydney rose 15 per cent in May from a year earlier, prompting a warning of a price bubble in Australia's biggest city.

The Reserve Bank of Australia is widely expected to keep interest rates on hold when it meets this week.

Business confidence has slumped in the latest ANZ monthly survey.

The Co-Operative Bank has posted a 24 per cent lift in annual profit, while also boosting its rebate to customers.

The dollar dropped to its lowest in more than four years on concern about the outlook for the economy.

Could Chevron New Zealand's offloading of its NZ Refining shares be a sign of things to come?

ANZ has been singled out by the Commerce Commission for its misleading behaviour over interest rate swaps.

ANZ breached the Fair Trading Act for misleadingly representing interest rate swaps to some customers.

Reserve Bank will disappoint financial markets and leave the official cash rate on hold for another two years, says NZIER.