The New Zealand dollar was stuck in a quiet range today, but began picking up towards the end of the session.
BNZ currency strategist Sue Trinh said there wasn't "a heck of a lot driving" the dollar which, nevertheless, was doing well on the crosses.
"With smatterings of yield-related demand quite persistent at the moment, that's helping to underpin the kiwi," Ms Trinh said.
At 5pm, the kiwi was buying US68.72c after opening at US68.78c at 8.15am today -- just shy of Friday's US68.79c close.
The kiwi traded in a range of 68.69-68.74c today.
Ms Trinh said eyes would be on the United States overnight, where Federal Reserve chairman Alan Greenspan's speech should support the greenback.
The US market is focused on the prospect of further Federal Reserve interest rate increases.
Overnight, Ms Trinh said she expected the kiwi to be trading between 68.95c and 68.45c.
In New Zealand, all 15 forecasters polled by Reuters expect the Reserve Bank to raise the official cash rate next month by at least 25 basis points, to 7.25 per cent. There is an outside chance the RB will raise the OCR by 50 basis points.
The data diary is quiet this week, with September quarter retail sales due out tomorrow.
- NZPA
<EM>Currency:</EM> Kiwi in quiet range all day
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