The New Zealand dollar held ground today against a resurgent US dollar and rose on key cross rates.
The kiwi regained US71c after falling to US70.88c overnight -- closing on US71.17c compared with its US71.36c close yesterday.
There were few local factors influencing the currency.
The US dollar rose to a seven-month high against the euro following solid US growth figures and expectations that France will say "Non" to an EU constitution in an upcoming referendum.
The greenback got a boost from revised data showing the US economy expanded at an annual rate of 3.5 per cent in the first quarter.
That compared with the government's previous estimate for 3.1 per cent growth, though the revised figure was a tad lower than economists' forecasts.
The US gross domestic product data supported views that the economy is on track for steady growth and that the Federal Reserve will keep raising rates at a "measured" pace.
That is seen underpinning the dollar.
The greenback closed locally at 107.82 yen (107.99), while the euro fell to US$1.2522 (US$1.2565) and the Australian dollar fell to US75.95c (US76.18c).
On the crosses at 5pm, the kiwi was buying A93.70c (A93.67c), 0.5683 euro (0.5679), 76.72 yen (77.05), 39.03 British pence (39.02) and 0.8787 Swiss francs (0.8776).
The trade-weighted index was at 70.79 (70.88), while the monetary conditions index was at plus 1082 (1088).
On the money markets, 90-day bank bill yields closed on 7.08 per cent (7.07 per cent), July 2009s were at 5.88 per cent (5.90), and April 2015s were unchanged at 5.78 per cent.
- NZPA
<EM>Currency:</EM> NZ dollar holds around US$71c, gains on crosses
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