20 Nov 2013

NZ dollar tries to rally after Federal Reserve announcement

7:02 pm on 20 November 2013

The New Zealand dollar tried to rally after the Federal Reserve said it will keep printing money as long as necessary.

ASB Bank head of external foreign exchange sales Tim Kelleher says news that our central bank will be commenting on the currency later this week didn't help.

He says there has been an announcement that the Reserve Bank assistant governor John McDermott is going to speak on the levels of the currency on Friday morning.

At about 5pm on Wednesday, the New Zealand dollar was trading at 83.43 US cents, up about a fifth of a cent, and little changed at 88.59 Australian cents and 0.6152 euro.

It was up slightly at 51.77 British pence and at 83.41 yen.