The New Zealand dollar was mixed today, but generally recovered from recent lows as gains in stock markets worldwide eroded safe-haven demand for the greenback and yen.
The NZ dollar was buying US67.57c at 5pm today from US66.96c at the same time yesterday.
The local stock market opened strongly butgave up some of its gains in the afternoon. The Shanghai stock index moved in and out of positive territory after recovering on Tuesday from earlier steep losses.
Dealers said the New Zealand dollar was consolidating after sharp moves on Friday and Monday.
Global investor sentiment continues to be the main market driver.
NZ Producer Price Index data today was in line with expectations. BNZ said the data suggested a continued slowing in inflation but not deflation. June quarter Capital Good Price Index data was also subdued.
The NZ dollar was up against a range of currencies, lifting to 0.4775 euro at 5pm from 0.4747 yesterday, and up to 63.92 yen from 63.47.
The NZ dollar lifted to A81.48c from A81.34c yesterday, with the trade weighted index rising to 63.09 at 5pm from 62.74 yesterday.
