30.06.201404:19:48UTC+00New Zealand dollar drops but stays near 34-month peak

The New Zealand dollar plunged against the US dollar Monday following the release of disappointing New Zealand data, but the kiwi stayed within a close distance of a 34-month high as weak US data kept pressuring the greenback.

The currency touched 0.8732 during late Asian trade, the lowest since June 25 and consolidated at 0.8734, tumbling 0.50%.

Figures showed the ANZ business confidence index for New Zealand inched down to 42.8 this month, previously 53.5.

Another report showed the building consents in New Zealand dived 4.6% in May following a 1.9% increase in April.

Against the euro, the kiwi fell 1.5626, sliding 0.49%.