The New Zealand dollar fell against the greenback in the New York session on Friday, with most risk assets failing to react to the better-than-expected US employment numbers.
The kiwi recently traded at US81.69 cents, down from US82.06c at 5pm on Friday, while on the Trade Weighted Index of major trading partners' currencies it was little chanced at 72.93 from 72.89.
Data out on Friday showed the US economy added 114,000 jobs in September and the unemployment rate fell to 7.8 per cent, the first time it has dipped below the 8 per cent level since early 2009.
The data did little to spur investors' demand for risk assets, with the Standard & Poor's 500 Index 0.03 per cent lower at 1460.93. Similarly, demand for growth-linked currencies such as the kiwi and Australian dollar was in slim supply.
"While the general tone in markets was quite positive on Friday night, this appeared to have little direct impact on the risk sensitive New Zealand dollar," said Kymberly Martin, a market strategist at BNZ. "Rather the New Zealand dollar declined before finding support at the key 81.50c level."
She said the tentative mood is likely to persist in the Asian trading session, with little in the way of data to bolster sentiment.
On the crosses, the New Zealand dollar recently traded at 80.44 Australian cents, up from A80.25c at 5pm on Friday, and it was little changed at 64.51 yen from 64.55 yen. The kiwi fell to 63.12 euro cents from 63.47 euro cents, and it slipped to 50.75 pence from 50.95p.
Martin said the kiwi appeared to be entering a wider range than seen during the March-April period this year, with high of around US83.20c and support at US80.60c.
- © Fairfax NZ News