The New Zealand dollar traded quietly in a fairly narrow range today with one dealer expecting the featureless tone to continue, despite the release tonight of several pieces of US data.
At 5pm in Wellington the kiwi was buying US71.14c from US71.18c this morning and US70.88c at 5pm yesterday. It traded in a US70.95c to US71.15c range.
A Wellington dealer said: "Its been a pretty non-eventful day, there's not much more to add at the moment".
"There's not a lot of data out that's going to change things."
Tonight the US Federal Reserve is due to release the minutes from its latest monetary policy meeting. There is also key US inflation and growth data out.
"I don't think any of those are going to do anything too much to the market at the moment," the dealer said.
"The kiwi's stuck in a range. Once we start looking into interest rate decisions early next month we'll start to see a little bit of action."
At 5pm in Wellington, the greenback was buying 107.61 yen (108.00), the euro was buying US$1.2566 (US$1.2561), and the Australian dollar was at US75.94c (US75.68c).
On the crosses, the kiwi was buying A93.66c (A93.65c), 0.5661 euro (0.5643), 76.55 yen (76.55), 38.89 British pence (38.80) and 0.8758 Swiss francs (0.8741).
The trade-weighted index was at 70.66 (70.51) while the monetary conditions index was at plus 1072 (1061).
On the money markets, 90-day bank bill yields were unchanged at 7.06 per cent, the July 2009s were at 5.91 per cent (5.95), while the April 2015s were at 5.81 per cent (5.87).
- NZPA
<EM>Currency:</EM> Kiwi closes little changed after quiet local session
AdvertisementAdvertise with NZME.