The New Zealand dollar continued to range trade today ahead of Thursday's Reserve Bank interest rate review.
At 5pm, the Kiwi was at US66.63c -- up on its Friday closing price of US66.54c -- after trading at a range of US66.55-US66.75 over the day.
Westpac currency strategist Johnathon Bayley said the kiwi started off trading near its lows, and then spiked late-morning.
"It's very much been a day for the greenback, but not for the kiwi," he said.
"And what we have seen for the greenback has been largely stock driven, rather than event driven."
He said all eyes this week would be on the Reserve Bank which releases its quarterly monetary policy statement on Thursday.
It is widely expected to keep the official cash rate at 7.25 per cent -- which is the highest key interest rate in the developed world.
Strategists at ANZ Investment Bank have said the market would be watching the wording of the RB's statement.
"Expect the Reserve Bank to maintain its "no easings" stance... any sign of softening will see markets bring forward expectations of rate cuts -- something that the Reserve Bank will not want to see," ANZ said.
Against the aussie, the kiwi was buying A89.40c, from A89.43c at 5pm on Friday.
Rates:
5pm today 5pm Friday
NZ dlr US66.63c US66.54c
NZ dlr/Aust dlr A89.40c A89.39c
NZ dlr/euro 0.5520 0.5537
NZ dlr/yen 77.89 77.50
NZ dlr/stg 37.88p 38.00p
NZ TWI 68.26 68.25
Australian dollar US74.54 US74.40c
Euro/US dollar US1.2071 US1.2019
US dollar/yen 116.89 116.46
- NZPA WGT mb
<EM>Currency:</EM> Kiwi trading over range
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