Stronger foreign currencies push NZ dollar up

The New Zealand dollar closed the trading session slightly stronger with little movement in overseas markets, but stronger foreign currencies.

The Kiwi was at US69.90c at 5pm, compared with US69.82c at 8am and US69.77c at 5pm yesterday.

ANZ chief foreign exchange dealer Murray Hindley said the NZ dollar strengthened through the afternoon session along with a stronger euro and Australian dollar.

"The euro is stronger through Asia, but obviously with both Hong Kong, Singapore and still China on holiday, trading has been subdued through our session today."

The US is also on holiday, celebrating President's Day.

Mr Hindley said the dollar had a small dip to US69.65 in the morning session due to the producers price index (PPI) results.

Statistics New Zealand today announced PPI outputs index fell 0.4 per cent and PPI inputs index rose 0.3 per cent for the December quarter.

Against the Australian dollar, the NZ dollar eased slightly to A78.44c at 5pm from A78.52c at 8am, and A78.55 at 5pm yesterday. It was also lower at 0.5130 euro compared to 0.5134 this morning, but up at 62.86 yen from 62.82.

The trade-weighted index was higher at 64.76 changed from 64.72 this morning, and 64.71 5pm yesterday.

- NZPA