The New Zealand dollar marked time today against the US dollar and made a mild gain against the Australian unit.
At the local close, the kiwi was buying US69.33c today from US69.34c at 5pm yesterday, having ranged between US69.27c and US69.50c during the session.
Against the Australian unit, the kiwi firmed to A92.45c, from A92.26c at 5pm yesterday in the wake of disappointing Australian trade figures yesterday.
The market had expected a deficit of A$1.8 billion ($1.97 billion) for November, but instead was presented with a A$2.47 billion deficit.
BNZ currency strategist Sue Trinh said the kiwi would hit resistance at A92.50-A92.60c while the downside should find support at A91.50c.
New Zealand's high interest rates continued to attract eurokiwi and uridashi issuers. Overnight, German agriculture agency Rentenbank issued a $100 million 2007 bond, while German state development bank KfW priced a $105m two-year uridashi, aimed at Japanese investors.
Kiwi traders will be looking for direction from the ANZ Commodity Price Index and monthly building consents data due on Friday, ahead of NZIER's quarterly survey of business opinion and the consumer price index next week.
The economic focus for US dollar traders is on the next trade report where an anticipated moderation in the deficit is expected, that would likely bolster the greenback.
Economists polled by Reuters see a median November trade gap of US$66.25 billion ($97 billion), down from October's US$68.89 billion deficit.
The euro was slightly stronger at US$1.2073 from yesterday's local close at US$1.2058 while the dollar eased to 114.52 yen from 115.66.
The Australian dollar eased to US74.98c from US75.13c.
Rates:
5pm today 5pm Tuesday
NZ dlr/US dlr US69.33 US69.34
NZ dlr/Aust dlr A92.45 A92.26
NZ dlr/euro 0.5745 0.5750
NZ dlr/yen 79.42 79.51
NZ dlr/stg 39.33 39.27
NZ TWI 70.69 70.68
Australian dollar US74.98 US75.13
Euro/US dollar US1.2073 US1.2058
US dollar/yen 114.52 115.66
- NZPA
<EM>Currency:</EM> Dollar firms against Aussie
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