The New Zealand dollar closed a little firmer today after a muted local session was stirred into life by a sell-off in the United States currency.
At 5pm in Wellington the kiwi was buying US71.44c from US71.37c this morning and US71.24c at 5pm on Friday, having traded in a US71.24c to US71.70c range today.
ANZ Investment Bank senior dealer Mark Elliott said today's local trade had been pretty quiet until the greenback was sold off during the Tokyo session.
"The (US) dollar was sold off across the board. The kiwi went through overnight highs of US71.51c and stop-loss runs seem to take it up to around US71.70c."
The greenback closed at 104.92 yen in Wellington this evening from 105.69 yen this morning and 105.84 yen on Friday evening. The euro was at US$1.2939 (US$1.2878 at 5pm Friday). The aussie was fetching US78.55c (US78.25c).
On the crosses the kiwi was buying A90.95c (A91.02c), 0.5521 euro (0.5532), 38.03 British pence (38.13), 74.96 yen (75.40), and 0.8581 Swiss francs (0.8603).
The monetary conditions index was at plus 973 (980), while the trade weighted index (TWI ) was at 69.55 (69.66).
On the money markets, 90-day bank bill yields were unchanged at 6.86 per cent, November 2006 bond yields were static at 6.31 per cent (6.36), July 2009s were at 6.10 per cent (6.11), and April 2015s were static at 5.94 per cent.
- NZPA
<EM>Currency:</EM> Kiwi gets nudge higher on US dollar sell-off
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