The New Zealand dollar fell against the greenback today in line with weakness in global markets after the International Monetary Fund downgraded its view of global growth.
The kiwi recently traded at US81.58c, down from US81.80c in the morning. It was at 73.00 on the Trade Weighted Index against major trading partners' currencies, down from 73.17.
"The kiwi was weak as are most risk currencies around the globe," Westpac market strategist Imre Speizer said.
"Markets are disappointed Spain has not asked for a bailout and that Greece has not received its next tranche of aid, and with the IMF downgrading global growth outlooks there is not a lot of good cheer around the world."
On the crosses, the kiwi was trading at 79.81 Australian cents, down from A80.10c in the morning. It was at 63.44 euro cents, down from 63.51 euro cents earlier. It was at 51.01 pence, down from 51.11 pence in the morning, and eased to 63.88 Japanese yen, down from 64.02 yen earlier.
Speizer expected the kiwi to trade between US81.50c and US81.90c overnight with a bias towards the downside.
- © Fairfax NZ News