The New Zealand dollar held steady today as the US dollar continued to make progress against major currencies.
At 5pm, it was buying US68.50c, a touch higher than yesterday's US68.40c close.
It was also steady against the Australian dollar, fetching A93.62c from yesterday's A93.57c local close. Against the greenback, the aussie also held firm, closing on US73.18c from yesterday's US73.14c close.
The US dollar was near a two-year high against a basket of major currencies, buoyed by data showing the United States was attracting more than enough investment to finance its gaping trade deficit. The euro fell to $US1.1680 from $US1.1717 yesterday while the dollar strengthened to 118.87 yen from 119.21.
With little news of note locally this week, the kiwi is tied to the fortunes of its bigger trading partners.
- NZPA
<EM>Currency:</EM> Kiwi holds ground against US dollar
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