FIN: New Zealand dollar stubbornly refused to drop into the US74c
The kiwi dropped close to the US75c level against the greenback again overnight, and efforts to move higher early today looked flimsy.
That was despite the United States dollar slumping broadly after Israel said Iranian warships were en route to Syria, with demand for non-US safe-haven currencies seen thriving should the situation worsen.
Israel's foreign minister said moves by two Iranian warships to sail through the Suez canal to Syria were a "provocation" by Tehran.
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By 5pm, the NZ dollar was at US75.47c from US74.44c at 8am and a low of US75.05c overnight.
ANZ bank said solid demand for the NZ dollar had managed to avert a test of the US75c level, although the bounce had been limited as ratings agency Moody's Investors Service announced reviews for the Australasian banking sector.
Moody's placed the big four Australian banks on review for a possible downgrade, saying the review would focus on the Australian banking system's structural sensitivity to conditions in the wholesale funding market.
