Kiwi steady as Aussie falls

The New Zealand dollar rose yesterday against an Australian dollar that tumbled after comments from Reserve Bank of Australia governor Glenn Stevens. Against the greenback, the NZ dollar was settled. By 5pm it was US71.10c, from US71.14c at 8am and US71.06c at 5pm on Thursday. Traders focused on a comment that Australian interest rates were "pretty close" to average, said Imre Speizer, senior market strategist at Westpac. The NZ dollar was at A77.07c at 5pm from A76.59c on Thursday. The NZ dollar reached new 26-month highs against the euro. Around 5pm it was €0.5371, up from €0.5305 on Thursday. The NZ dollar was at 66.39 by 5pm from 65.97 on Thursday. The trade weighted index rose to 66.37 at 5pm from 65.96 on Thursday.

- NZPA