The New Zealand dollar eased across the board today in the run-up to Thursday's official cash rate (OCR) review.
At 5pm in Wellington the kiwi was buying US71.48c (from US71.43c at 5pm yesterday), having traded between US71.54c and US71.17c last night.
Against the Australian dollar, the kiwi was at A92.57c (A92.74c at 5pm yesterday), and on the other crosses it was fetching 0.5472 euro (0.5473), 37.94 British pence (38.06), 73.24 yen (73.50), and 0.8458 Swiss francs (0.8468).
An Auckland dealer said the kiwi was " generally a little bit heavy given where we were on some of the crosses this morning".
The kiwi had opened near highs on a trade-weighted index (TWI) basis but had fallen on profit taking on the crosses during the session.
The TWI is a measure of the kiwi's value against the currencies of our major trading partners. At 5pm in Wellington the TWI was at 69.28 (69.42)
The dealer said Thursday's Reserve Bank of New Zealand's official cash rate review (OCR) remained the focus for trade in the local currency.
While RBNZ governor is not expected to lift the OCR from its current 6.5 per cent, the market was predicting he would issue a hawkish accompanying statement.
Elsewhere, the greenback was at 102.74 yen (102.90), and the euro was at US$1.3028 (US$1.3050). The Australian dollar was buying US77.01c (US77c).
The RBNZ's monetary conditions index was at plus 960 (957).
On the money markets, 90-day bank bill yields were unchanged at 6.80 per cent, November 2006 bond yields were at 6.34 per cent (6.31), July 2009s were at 6.09 per cent (6.05), and April 2015s were at 6.03 per cent (5.98).
- NZPA
<EM>Currency:</EM> Kiwi eases across the board ahead of rate call
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