The New Zealand dollar today added slightly to the gains it made late last week as it continued to recover from recent 22 month lows hit against the US dollar.
At 5pm today the kiwi was buying US61.48c from US61.18c at 5pm Friday.
With little local data due out this week the kiwi is expected to dance to the tune of other major currencies over the next few days.
The Australian dollar weakened slightly against both the US and the kiwi dollars today, despite the release today of a smaller than expected trade deficit.
At 5pm the aussie was buying US71.43c from US71.61c at 5pm Friday, while the kiwi was buying A85.99c, from A84.58c.
The kiwi was also up against the Japanese yen, as Japanese investors turned to high yielding currencies at the beginning of their new financial year.
At 5pm the kiwi was buying 72.90 yen, from 71.84 yen at 5pm yesterday.
Japanese traders said the yen got only a small jolt from a slight deterioration in business sentiment among big manufacturers in the Bank of Japan's tankan survey. The survey did not dent expectations the BOJ would start raising interest rates this year.
The following are Reuters currency rates:
5pm today 5pm Friday
NZ dlr US61.48c US61.18c
NZ dlr/Aust dlr A85.99c A85.48c
NZ dlr/euro 0.5104 0.5034
NZ dlr/yen 72.90 71.84
NZ dlr/stg 35.53p 35.06p
NZ TWI 63.74 63.13
Australian dollar US71.43c US71.61c
Euro/US dollar US1.2048 US1.2155
US dollar/yen 118.62 117.42
- NZPA
<EM>Currency:</EM> Kiwi holds onto gains
AdvertisementAdvertise with NZME.