The kiwi remained caged within a tight range today, and ended the day virtually unchanged from the previous local session.
At 5pm the kiwi was fetching US71.08c from US71.07c at 5pm yesterday, having ranged between US70.92c and US71.11c during the day.
BNZ currency strategist Sue Trinh said activity was likely to pick up later in the week, following the release of key data.
The Reserve Bank of Australia is set to make an interest rate announcement tomorrow.
Ms Trinh said no-one was expecting Australian rates to move, which meant the RBA would not release an accompanying statement. "Which means that we are going to be left to guess exactly what they are thinking," Ms Trinh said.
But she added that the Australian central bank was going to release its quarterly statement on monetary policy next week, which would throw light on future moves.
Key announcements this week from the US include the latest index of US national manufacturing activity from the Institute for Supply Management (ISM) due out tonight and the US non-farm payrolls data due on Friday.
The midweek meeting of the US Federal Reserve is expected to result in a rate rise of a quarter percentage point. Traders will be looking for signs the US central bank could accelerate its campaign of "measured" monetary tightening in coming months.
At 5pm today the greenback was at 103.66 yen (103.63 at 5pm yesterday), the euro was at US$1.3047 (US$1.3022) and the aussie was unchanged at US77.37c.
On the crosses at 5pm today the kiwi was buying A91.87c (A91.86c), 0.5448 euro (0.5458), 37.72 British pence (37.71), 73.69 yen (73.64), and 0.8452 Swiss francs (0.8452).
The New Zealand dollar trade-weighted index was static at 69.12 and the monetary conditions index was at plus 934 (933).
On the money markets, 90-day bank bill yields were at 6.79 per cent (6.78), November 2006 bond yields were at 6.32 per cent (6.33), July 2009s were at 6.10 per cent (6.11) and April 2015s were at 6.02 per cent (6.05).
- NZPA
<EM>Currency:</EM> Kiwi continues to range trade
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