Pressure on kiwi

The New Zealand dollar remained under pressure against the US dollar after a review found New Zealand banks need to improve the way they manage risks around misconduct. Local data also pointed to a fifth month fall in commodity prices in October.

The kiwi traded at US66.37 cents at 5pm in Wellington versus US66.36 cents at 8am in Wellington and US66.52 at 5pm last Friday.

The trade-weighted index was at 72.58 from 72.74.