The New Zealand dollar rebounded on Monday after having been sold down in the United States on Friday when US jobs figures proved much better than expected
ANZ Bank's senior manager in the foreign exchange market, Sam Tuck, says investors took advantage of that weakness to rebalance following local and Australian jobs figures last week.
At the end of the business day, the Kiwi was trading at 82.78 US cents, 88.24 Australian cents, 51.7 British pence, 0.6197 euro and 81.92 yen.
But New Zealand's share market fell on Monday, with Fonterra leading the way after it wrote down its inventory by $157 million.
The benchmark Top 50 Index fell 29 points to 4922.
An investment advisor at Forsyth Barr, Dave Schaper, says Fonterra has effectively been selling some stock for less than it costs to produce.
Fonterra shares, which only farmers can own, fell 18 cents to $6.64 each, while units in the Fonterra Shareholders' Fund, which anyone can own, dropped 20 cents to $6.62.
Shares in the telephone lines company, Chorus, rose for the first time since the Commerce Commission ruled that it must nearly halve the amount it charges retailers for its broadband over copper service.
Mr Schaper says the outlook for Chorus is far from clear, but the shares lifted by 5.5 cents to $2.055