The Kiwi dollar recovered in late trade Monday in heavy volatile trading.
The NZ dollar fell as low as 71.50c in early trade from 73.24c at close on Friday. It recovered to be 72.19c at close Monday.
Receive $25 free with a Forex Micro account
Spooked investors bailed out of so-called risky currencies such as the NZ dollar during the weekend and the local currency took another hit this morning on news that CIT Group Inc, a US lender to small and medium-sized businesses, filed for bankruptcy.
The bankruptcy was expected but it still ratcheted up risk aversion, helping the US dollar's run higher.
