
NZ dollar falls after hitting one-month high
The New Zealand dollar fell from a one-month high after Federal Reserve Chairmen Ben Bernanke failed to signal further quantitative easing for the US.
The New Zealand dollar fell from a one-month high after Federal Reserve Chairmen Ben Bernanke failed to signal further quantitative easing for the US.
The Reserve Bank will not lower the official cash rate below 2.5 per cent in its review next week, says Westpac chief economist Dominick Stephens.
The dollar rose almost one US cent on optimism European policymakers will act to stimulate the region's economy and provide aid for Spanish banks.
The New Zealand dollar fell after G7 leaders nations agreed to a coordinated response to Europe's deteriorating financial crisis, though gave no guidance on how to do so.
US stocks have closed mixed after a day of bumpy trade, as eurozone turmoil kept a shadow over world sharemarkets.
The dollar rose on speculation Spain may tap European Central Bank funding to bailout Bankia SA to prevent a national banking sector collapse.
The New Zealand dollar gained after Italian Prime Minister Mario Monti said Greece will probably keep the euro.
World sharemarkets were up overnight, but Facebook shares plunged 10pc.
Statistics New Zealand has made some big revisions to the history of the country's gross domestic product growth figures.
World markets were down overnight as the political stalemate in Greece continues.
World sharemarkets were up overnight, after better than expected US job data and prospects rose for a new Greek government.