NZD follows aussie and euro up

The New Zealand dollar rose against the greenback today, with the Australian dollar and euro getting a boost when  Moody's took no rating action on Spain.

The kiwi recently traded at US81.73c, up from US81.30c earlier. It was up to 72.70 on the Trade Weighted Index against major trading partners' currencies, from 72.44 in the morning.

ASB Institutional head of institutional FX sales Tim Kelleher said the kiwi had a reasonably robust day.

"There was strength in the euro as Moody's did not cut Spain's credit rating as had been expected. The aussie rose on the back of that and the kiwi followed," he said.

On the crosses, the kiwi was at 79.29 Australian cents, up from A79.14c earlier. It was at 62.44 euro cents, up from 62.30 euro cents in the morning. It recently traded at 64.35 Japanese yen, up from 64.15 yen earlier. It rose to 50.69 pence, up from 50.46 pence in the morning.

- © Fairfax NZ News