11 Jun 2013

NZ dollar falls on China, US data

7:11 pm on 11 June 2013

The New Zealand dollar fell again on Monday - at one point to its lowest level since July last year.

The currency fell as low as 78.24 US cents on Monday despite relatively weak jobs data out of the United States allaying fears that the Federal Reserve would stop its stimulatory money printing policy.

However, ASB Bank head of foreign exchange sales Tim Kelleher said comments by former Federal Reserve chair Alan Greenspan that economic stimulation through qualititive easing (QE) should be slowed shows such fears are not unfounded.

He also said figures showing the Chinese economy is relatively weak have helped fuel negative sentiment towards the New Zealand dollar.