After rallying to US71.10 today -- a level not seen since mid-June -- the kiwi was camped just under the US71c area at close.
Bank of New Zealand currency strategist Sue Trinh said the kiwi had been trading quite quietly.
"The range on the day has been reasonably tight at US70.84 up to a US71.10c fresh high," she said.
In Wellington tonight, the kiwi was at US70.99c, up on the morning's opening of US70.75c, and Friday's local close of US70.42c.
The local unit continued to attract strong, yield-related demand following a large issue of uridashis -- New Zealand dollar-denominated bonds sold to Japanese investors -- last week.
"The US dollar remains weak, which is one of the key underpinnings for the kiwi, but equally we are seeing very strong yield-related appetite for the kiwi."
Ms Trinh said "there will no doubt be another test of that 71c area (overnight)".
She said FX markets were awaiting the result of tonight's US treasury international capital flows data.
"If the data come in worse than the market is expecting you can be sure that the US dollar will come under further pressure as the North American market comes back into play this week," she said.
Elsewhere, the kiwi was up against the aussie -- at A91.53c (A91.20c on Friday). The aussie was down slightly against the greenback -- buying US77.22c (US77.23c at Friday's local close) -- while the yen was buying 109.56 against the US (109.83).
The euro, meanwhile, eased to 1.2418 (1.2457) due to a bout of profit-taking in the European currency after three consecutive sessions of gains.
On the crosses, it was also a good day for the kiwi.
It was at 0.5717 euro (0.5654), 39.15 pence (38.94), and 77.78 yen (77.35), 0.8872 Swiss francs (0.8782).
The Australian dollar was buying NZ1.0926 ($1.0965).
On a trade-weighted basis the kiwi was at 70.47 (70.78). The MCI was at 1078 (1039).
On the money market, 90-day bank bill yields were steady at 7.04 per cent. July 2009 bond yields were on 5.80 per cent (5.86), and April 2015s were down on 5.79 per cent (5.86).
- NZPA
<EM>Currency:</EM> Kiwi camps out just under US71c
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