26 Jul 2010

NZ dollar remains strong

12:57 pm on 26 July 2010

Improving global sentiment continues to boost the New Zealand dollar.

The dollar reached a one-week high of 72.9 US cents early on Saturday before slipping back. At midday on Monday it was trading at 72.75 US cents.

BNZ currency strategist Mike Jones says the kiwi is taking its cue from global equity markets.

Investors are unsure of the strength of the global recovery, he says, and are looking to the markets for signals on buying riskier assets such as the New Zealand dollar.