The New Zealand dollar has fallen further against the U.S. dollar on Tuesday by hitting a low of 79.66 U.S. cents on early Tuesday afternoon.

ANZ Bank chief economist Cameron Bagrie said the fall has been sparked by incredible market uncertainty which has prompted investors to reduce risk.

By 6 p.m. local time on Tuesday, the New Zealand dollar had strengthened and was buying 81.8 U.S. cents, above its low of 79. 66 cents in early afternoon trade.

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