The New Zealand dollar traded in a tight range today, as the greenback stalled after Monday's rally.
At 5pm the kiwi was buying US68.80c from US68.73c at yesterday's close, after trading in a US68.80-68.98 range today.
The greenback strengthened on Monday after European Central Bank (ECB) president Jean-Claude Trichet downplayed the scope of potential interest rate rises.
He said while the ECB was ready to raise euro zone interest rates, it was not necessarily planning a series of rate hikes.
The kiwi was little affected by Statistic New Zealand's release of monthly NZ migration data, which showed a net gain of 450 long-term and permanent migrants in October.
Short-term visitor arrivals fell 3 per cent from October 2004.
Third quarter producer price data for to be released on Thursday is expected to show input prices rising 1.5 per cent and output prices increasing 1.1 per cent on the previous quarter.
October trade data, due on Friday, is expected to show a monthly deficit of $782 million, after a $992m gap in September.
The kiwi hit a two-week high of US69.19c overnight, before being pulled down by the euro.
The following are Reuters currency rates:
8.30am today 5pm Monday
NZ dlr US68.80c US68.73c
NZ dlr/Aust dlr A93.62c A93.71c
NZ dlr/euro 0.5868 0.5837
NZ dlr/yen 81.92 81.91
NZ dlr/stg 40.08p 40.01p
NZ TWI 71.55 71.43
Australian dollar US73.49c US73.34c
Euro/US dollar US1.1726 US1.1775
US dollar/yen 119.13 119.28
- NZPA
<EM>Currency:</EM> Kiwi caught in tight range
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