The New Zealand dollar fell against the greenback after new data revealed that local unemployment numbers had risen with 6.8 per cent of the population now out of work.
The kiwi recently traded at US81.41c, down from US81.50c in the morning. On the Trade Weighted Index against major trading partners' currencies it was at 73.00, down from 73.23 earlier.
Westpac Banking market strategist Imre Speizer said the kiwi had a volatile day.
"The big mover for us was the New Zealand labour report that was a big disappointment, and the kiwi against the US dollar fell around half a cent in response, and wholesale two-year interest rate bonds fell 7 basis points," Speizer said.
"In a typical negative day they might fall 2 or 3 basis points," Speizer said.
"There was a clear negative reaction to the very soggy labour report, then a bit later the Australian labour report showed a slight positive surprise that helped the kiwi recover. Also global stock markets were rising this afternoon, which helped."
On the crosses the kiwi was at 76.74 Australian cents, down from A77.24c in the morning. It rose to 65.75 euro cents from 65.68 euro cents earlier. It was at 51.92 pence, down from 52.14 pence earlier. It fell to 63.89 Japanese yen, down from 64.11 yen.
Speizer expected the kiwi to trade between US80.80c and US81.60c with a bias towards the lower side overnight.
- © Fairfax NZ News