The New Zealand dollar has fallen through 75 US cents for the first time since mid-December as global markets fell following an interview former Greek Prime Minister Lucas Papademos gave to the Wall St Journal.
The dollar hit 74.87 US cents at 1:15pm on Wednesday after falling through the morning. The New Zealand dollar was as high as 76.75 USc at 5:45 pm on Tuesday. The currency was as low as 74.6 USc on December 15 last year.
HiFX dealer Dan Bell told interest.co.nz the Papademos interview, in which the former Greek PM warned about the consequences of Greece exiting the euro, was published around 7am NZ time.
Asian markets opened down, and the comments weighed on the New Zealand dollar as the risk trade continued to capitulate, Bell said.