The New Zealand dollar closed a touch firmer today as the focus switched from local election uncertainty to the US Federal Reserve meeting overnight.
The kiwi ended at US70.21c, compared with US69.97c at yesterday's local close.
The greenback eased ahead of the Fed's meeting -- despite expectations that the US central bank will raise rates for the 11th consecutive time to 3.75 percent -- as traders locked in profits on recent gains.
Many traders are waiting to pick apart governor Alan Greenspan's statement for any sign the Fed might pause its run of rate rises.
Dealers expect the kiwi to remain rangebound ahead of tomorrow's second quarter current account data. New Zealand's trade deficit is expected to widen to 7.4 percent of GDP in the June quarter, compared with 7 percent.
Other local data this week includes tomorrow's Westpac consumer confidence survey and migration data on Friday.
The following are Reuters currency rates:
5pm 5pm (Monday)
NZ dlr US70.21c US69.97c
NZ dlr/Aust dlr A91.30c A91.53c
NZ dlr/euro 0.5771 0.5758
NZ dlr/yen 78.18 77.99
NZ dlr/stg 38.90p 38.80p
NZ TWI 70.63 70.51
Australian dollar US76.91c US76.46c
Euro/US dollar US1.2166 US1.2152
US dollar/yen 111.34 111.44
- NZPA
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