The New Zealand dollar gained again today against the weak United States dollar, a broker said.
The kiwi started today's session at its lows before closing 46 basis points higher at US70.74c, from US70.71c at the same time on Friday.
Its session high was US70.78c.
BNZ currency strategist Sue Trinh said the kiwi's gains came on renewed weakness in the United States dollar.
"The kiwi has been propped up quite nicely today," she said.
Negative comments by the Bank of England (BOE) about the United States' ability to fund its current account deficit had undermined the greenback, Ms Trinh told NZPA today.
BOE today questioned the US' ability to attract sufficient capital to fund its deficit.
"That means the US dollar should be lower, and that's fuelled US dollar selling pressure today."
Meanwhile, the US dollar was at 104.92 yen (105.27 yen at 5pm on Friday), the euro was at US$1.3281 (US$1.3239), and the Australian dollar was at A75.36c (US75.26c).
On the crosses the kiwi was buying A93.80c (A93.96c) 0.5328 euro (0.5341), 36.88 British pence (36.87), 74.21 yen (75.26) and 0.8178 Swiss francs (0.8165).
The trade-weighted index was at 68.83 (68.90) and the monetary conditions index was at plus 909 (908).
On the money markets, 90-day bank bill yields were at 6.74 per cent (6.71), February 2006 bonds at 6.30 per cent (6.28), the July 2009s were on 6.01 per cent (6.02) and April 2013s were at 5.99 per cent (6.00).
- NZPA
<EM>Currency: </EM>Dollar propped up by renewed weakness in the US dollar
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