KEY POINTS:
The New Zealand dollar dipped in late afternoon trading after spending most of the session in a narrow range just under the US59c figure.
The NZ dollar was US58.58c at 5pm, down from US59.20c at 8am and US59.19c at 5pm Friday.
It spent most of a quiet session just below the US59c figure but dipped late in the afternoon on heightened risk aversion as offshore share markets fell.
The NZ dollar slipped against a rising yen, and was 52.75 yen at 5pm from 54.02 yen at the same time on Friday.
The local business news diary is light this week with New Zealand Institute of Economic Research quarterly survey of business opinion due tomorrow, and building consents and Quotable Value house price data later in the week.
Traders also have an eye on a meeting of economic ministers on Thursday called by Prime Minister John Key.
But the NZ dollar market is expected to continue to reflect the mood of foreign investors who are focused on the performance of Wall Street.
On a trade-weighted basis the NZ dollar was little changed in the past week but it has risen 6.8 per cent from the 2008 low set in early December, ASB said.
Today, the trade-weighted index was 57.57 at 5pm, from 57.72 on Friday.
The kiwi firmed against the aussie dollar to A84.50c at 5pm from A83.67c at 5pm Friday. It also gained against the euro to 0.4375 from 0.4336 on Friday.
Currency rates:
5pm today 5pm Friday
NZ dlr/US dlr US58.58c US59.19c
NZ dlr/Aust dlr A84.50c A83.67c
NZ dlr/euro 0.4375 0.4336
NZ dlr/yen 52.75 54.02
NZ dlr/stg 38.78p 38.98p
NZ TWI 57.57 57.72
Aust dlr/US dlr US69.32c US70.73c
Euro/US dlr 1.3387 1.3649
US dlr/yen 90.06 91.29
- NZPA
