Dollar steady in US75c range

The New Zealand dollar was steady today due to little direction from global markets.

The dollar traded at a high of US75.98c and low of US75.56c, closing at US75.61c at 5pm from US75.25c at the same time yesterday.

BNZ Capital currency strategist Danica Hampton said lack of fresh information and people settling down for the long weekend caused the local dollar to stay stable.

But BNZ expects the NZ dollar to be knocked down next week with the Reserve Bank of New Zealand's review of the official cash rate on Thursday.

The money market is anticipating rate rises over time but BNZ doesn't expect the central bank to move next week.

` `We do see a readjustment of those interest rates," said Miss Hampton.

The NZ dollar closed at 0.5031 euro at 5pm from 0.5020 at 5pm yesterday, and lifted slightly to 69.24 yen from 68.57 yen.

Against the Australian dollar, the NZ dollar went down to A81.42c from A81.83c at local open at 8am.

The trade weighted index eased to 67.50 at 5pm from 67.23.

- NZPA