The New Zealand dollar eased back to about 70 US cents at the start of a week in which the Reserve Bank is expected to reiterate it won't raise interest rates any time soon, with the on-hold view reinforced by weaker growth figures. The kiwi dollar traded at 70 US cents as at 8am in Wellington from 70.17 cents in New York on Friday and 69.90 cents in Wellington at the end of last week. We see the balance of risk tilted towards the NZD making up a little more ground over coming trading sessions." The kiwi fell to 56.50 British pence from 56.63 pence in New York on Friday and traded at 65.21 euro cents from 65.31 cents. It edged up to 91.09 Australian cents from 90.96 cents, fell to 4.8300 yuan from 4.8397 yuan and dropped to 78.83 yen from 79.05 yen.

Source: New Zealand Herald March 19, 2017 19:41 UTC