The New Zealand dollar traded sideways today as the forex market settled in the wake of the recent global equity shake-ups.
At 5pm in Wellington the kiwi at US71.81c, was little changed from US71.75c at 9.20am today but was still up on yesterday's US71.21c close.
A Wellington dealer said the kiwi had traded a tight range today following its rise overnight on a softer greenback.
"We've seen a bit of demand late in the day for the kiwi and aussie and both of them look rather well supported."
The aussie was buying US76.78c at 5pm (US76.84c at 5pm yesterday).
The dealer said the US dollar was weaker overnight after Wall St yesterday showed signs of pulling out of a run of steep losses. The greenback and other currencies' short term progress would continue to be influenced by Wall St's performance.
" Most people will be watching the (US) sharemarket tonight to see what happens," the dealer said.
The greenback was this evening buying 107.28 yen (107.89), and the euro was fetching $US1.3026 euro ($US1.2886).
On the crosses, the kiwi was buying A93.52c (A93.16c) 0.5512 euro (0.5527), 77.01 yen (76.84), 37.71 British pence (37.70), and 0.8529 Swiss francs (0.8667).
The trade-weighted index was at 70.30 (70.07), while the monetary conditions index was at plus 1044 (1028).
On the money markets, 90-day bank bill yields were at 7.03 percent (7.04), July 2009 bonds were at 6.00 percent (6.02), and April 2015s were at 5.91 percent (5.91).
- NZPA
<EM>Currency:</EM> Kiwi takes breather after recent equity market shakeups
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