The New Zealand dollar plunged today when the Australian dollar experienced pressure from all sides.

The NZ dollar saw a fall of up to US67.39c by 5pm, following seeing a rise to US67.97c at 8am from US67.58c at 5pm yesterday.

Danica Hampton, Senior Currency Strategist at BNZ stated that the world seemed to be in better state after equity markets rallied on Friday but headings regarding miner, Rio Tinto in Australia, today augmented unconstructive sentiment for the Australian dollar.

Rio Tinto is evaluating all capital spending schemes in light of the Australian Government's planned reserve super profits tax.

The NZ dollar increased as high as A81.90c today however, eased to A81.27c by 5pm, as contrasted with A81.24c at 5pm on Friday.

The Australian dollar had seen a sharp fall last week, and investors are carrying fleeing the currency as part of an escape to quality at a time of indecision in markets. It was US82.86c at 5pm from US83.19c at the similar time on Friday.

Ms. Hampton stated that the performance of equity markets would persist to be a chief driver of sentiment in monetary markets this week.

Westpac hopes the NZ dollar to keep on to having a downward prejudice until steadiness comes back to markets.