The New Zealand dollar spiked higher against the Australian dollar and the euro after better than expected retail data was released today, a dealer said.
At 5pm, the kiwi was A93.53c (from A93.10c at the same time yesterday), and 0.5621 euro (0.5603).
BNZ currency strategist Sue Trinh said the kiwi got a ride higher on the back of today's retail figures, which showed seasonally adjusted sales grew 1.7 per cent in February, from January.
Statistics New Zealand said the rise was atypically high because of below average December 2004 sales, followed by a more normal month in January.
"It's no surprise that the kiwi propped higher on that (retail) number," Ms Trinh told NZPA today.
"It (the rise) wasn't so manifest against the US dollar, but was really obvious against the likes of the aussie and euro," she said.
"The kiwi-aussie cross took out a fair amount of stops and after that it was more or less one way traffic," Ms Trinh said.
The kiwi closed at US72.40c (US72.38c), having ranged between US72.35c and US72.68c. It was fetching 78.02 yen (77.71), 38.32 British pence (38.24), and 0.8723 Swiss francs (0.8673).
The trade-weighted index was at 71.07 (70.89), while the monetary conditions index was at plus 1105 (1089).
The aussie was at US77.41c (US77.73c), the euro was at US$1.2880 (US$1.2920c), and the greenback was at 107.76 yen (107.38).
On the money markets, 90-day bank bill yields were unchanged at 7.08 per cent, July 2009 bonds were unchanged at 6.14 per cent, and April 2015s were at 6.00 per cent (6.07).
- NZPA
<EM>Currency:</EM> Kiwi gains against aussie and euro after retail data released
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