The kiwi closed slightly lower today having mostly traded in a fairly narrow range.
At 5pm it was at US71.35c, down from last night's close of US71.44c and this morning's local open of US71.53c. It traded between US71.23c and US71.50c during the day.
ANZ Investment Bank chief foreign exchange dealer Murray Hindley said the kiwi remained pretty much stuck in its present range with a lack of local data to provide any upward impetus and overseas yield chasers providing support.
He said the local currency had been trading in 10 basis point range for most of the day until some Asian selling late in the session that pushed it to its lows for the day.
"But it bounced back pretty quickly -- any dips are going to continue to be bought," he said.
The kiwi was a little firmer against the aussie, A91.08c from A90.95c at 5pm yesterday.
The greenback closed at 105.32 yen (104.92 at 5pm yesterday). The aussie was at US78.39c (US78.55c), and the euro was buying US$1.2958 (US$1.2939).
On the crosses the kiwi was buying 0.5508 euro (0.5521), 37.85 British pence (38.03), 75.15 yen (74.96), and 0.8560 Swiss francs (0.8581).
The monetary conditions index was at plus 971, and the trade-weighted index was at 69.53 (69.55).
On the money markets, 90-day bank bill yields were static at 6.86 per cent, November 2006 bond yields were at 6.26 per cent (6.31), July 2009s were unchanged at 6.10 per cent, and April 2015s were at 5.93 per cent (5.94).
- NZPA
<EM>Currency:</EM> Kiwi eases having mostly traded tight range
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