The New Zealand dollar today edged below the US73c mark thanks to the Japanese yen dipping as that country's financial markets closed for the annual Golden Week holiday.
The kiwi opened at US73.07c, but eased through the session to close at US72.92c at 5pm, having traded as low as US72.90c. It had touched US73.50c overnight on Friday.
BNZ currency strategist Sue Trinh said the kiwi had traded quietly through a holiday-thinned session.
The Japanese market was closed for its Golden Week break, which is a string of national holidays in late April and early May
"As a result there's very minimal interest in Asia for the currency markets," Ms Trinh told NZPA today.
"Having said that the kiwi has taken on a mild bias to the downside and slipped blow the US73c figure as the euro came under a little bit of pressure," she said.
"The US dollar was mildly stronger, but the Japanese yen has led the way lower for most currencies."
On its other crosses at 5pm, the kiwi was fetching 0.5673 euro (from 0.5462 euro at 5pm Friday), A93.55c (A93.48c), 76.77 yen (76.96), 38.26 British pence (38.15) and 0.8725 Swiss francs (0.8672).
The trade-weighted index was at 71.20 (71.10) and the monetary conditions index was at plus 1107 (1099).
Meanwhile, the euro opened at US$1.2854 (US$1.2926), while the greenback was buying 105.27 yen (105.54), and the Australian dollar was at US77.95c (US78.04c).
On the money markets, the 90-day bank bill yields were at 7.03 per cent (7.02), July 2009 bonds were at 5.95 per cent (5.92) and April 2015s at 5.86 per cent (5.87).
- NZPA
Currency: Dollar edges lower through today’s session
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