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Print Print edition: 2012-02-17

Australian and New Zealand dollars struggle

Published Updated

The Aussie and New Zealand dollars struggled on Thursday as concerns about Greece took centre stage again, erasing gains made following a strong Australian jobs report. The Australian dollar edged 0.1 percent lower on the day to $1.0682, some distance away from this week's peak of $1.0777 hit on Wednesday.
However, it managed to nudge up to NZ$1.5728 against the kiwi, having hit an all-time trough since the single currency was launched in 1999 of NZ$1.5575 on Wednesday. The New Zealand dollar was thumped by the twin forces of Australia's strong jobs data and the broader market nervousness about the Greek bailout package. The kiwi fell to a session low of $0.8260 from its New York close around $0.8340. It trimmed some of its losses but last traded at $0.8270, still 0.6 percent lower on the day.

Copyright Reuters, 2012

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