NZ dollar slips vs greenback

The New Zealand dollar slipped against the greenback overnight but remained within the range between US71c and US71.50c where it has spent much of the past three days.

About 8am today the kiwi was buying US71.14c from US71.34c at 5pm yesterday.

The United States dollar found support after the Treasury Department said foreign purchases of US securities rose in February as strong private sector demand helped reverse an overall capital outflow the month before.

The euro fell against the greenback, snapping five straight days of gains, on worries over how potential aid for Greece would be disbursed.

Although the NZ dollar did top 0.5270 euro overnight, it was down to 0.5238 by 8am, similar to its level at the local close.

The NZ dollar fell to 66.19 yen at the local open from 66.62 at 5pm, and slipped to A76.20c at the local open, around one-week lows, from A76.40c at 5pm. The trade weighted index dropped to 65.67 at 8am from 65.85 at 5pm.

- NZPA