The kiwi made some ground against the US dollar today following a move lower over the weekend with strong trade on the aussie cross providing support.
At 5pm in Wellington the kiwi was buying US67.53c from US67.34c at 8.30am and US67.75c at Friday's local close. Its range today was US67.30c to US67.58c.
BNZ currency strategist Sue Trinh said the currency had been "reasonably well supported by persistent buying of the kiwi against the aussie dollar."
At 5pm the kiwi was fetching A90.15c from A89.89c at 8.30am today and A90.14c at 5pm on Friday. Against the greenback the aussie was buying US74.92c (US75.16c at 5pm Friday).
Meanwhile, the greenback was buying 112.26 yen (112.15 ).
By the end of our local session the euro was sitting right on US$1.2048 (US$1.2100).
Ms Trinh said that all eyes would be on the US later this week where federal reserve chairman Alan Greenspan will testify in front of Congress.
"That will have a repercussion for where the US dollar trades, which affects how the kiwi trades against the US," she said.
On its crosses this evening, the kiwi was fetching 0.5605 euro (0.5599), 38.50 British pence (38.49), 0.8745 Swiss francs (0.8725) and 75.80 yen (75.98).
The TWI was at 68.75 (68.62) and the monetary conditions index at plus 933 (923).
On the money markets, 90-day bank bill yields were unchanged at 7.04 per cent. July 2009 bond yields were at 5.79 per cent (5.75) and April 2015s were at 5.73 per cent (5.69).
- NZPA
<EM>Currency:</EM> Kiwi down against dollar
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