The New Zealand dollar took a ride higher and above the US71c mark today, courtesy of rise in the Australian-United States dollar cross, a broker said today.
At 5pm, the kiwi was at US71.25c (from US71.82c at the same time yesterday), having ranged between that and US78.80c.
The Australian dollar was US76.05c (US76.50c).
BNZ currency strategist Sue Trinh said the aussie-US dollar cross spiked higher on investor interest in News Corp, which is dual listed in Australia and the US.
"The kiwi tends to rally with the aussie," Ms Trinh said, also picking the kiwi might push through the US72c mark in coming weeks.
"Typically what you see in the holiday period is lack of liquidity and in the past few years we've seen the kiwi have quite a strong wee rally," she told NZPA today.
"I would favour (the likelihood) of a retest of the US72c area, possibly even US72.70c."
The kiwi-aussie was quiet, closing at A93.70c (A93.87c), and still camped out just below the A94c mark.
"That's likely to be maintained over coming weeks," Ms Trinh said.
Meanwhile, the euro was at $US1.3250 ($US1.3412), and the greenback was at 104.54 yen (104.26).
On the crosses the kiwi was buying 0.5379 euro (0.5355), 36.89 British pence (36.97), 74.50 yen (74.88) and 0.8249 Swiss francs (0.8193).
The trade-weighted index was at 69.20 (69.39) and the monetary conditions index was at plus 934 (950).
On the money markets, 90-day bank bill yields were at 6.73 percent (6.74), February 2006 bonds were unchanged at 6.31, July 2009s were at 5.98 percent (5.96), and April 2013s were at 5.91 percent (5.90).
- NZPA
<EM>Currency:</EM> NZ dollar finishes higher against US and Aussie
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