The New Zealand dollar continued to gain ground against the aussie dollar today and also kept pushing up towards US70c.
At 5pm the kiwi was nudging A95c, having climbed to A94.94c, from A94.22c at 5pm on Friday.
Against the greenback at 5pm today the kiwi was buying US69.90c, from US69.42c at 5pm on Friday.
Looking ahead there is no major domestic data due out this week. The Reserve Bank will release its next monetary policy statement on December 7, and is widely expected to raise the official cash rate by at least 25 basis points to 7 percent -- maintaining the kiwi's attractive yield.
The European Central Bank is also widely expected to raise its key rate by 25 basis points to 2.25 percent on Thursday. But the US dollar's rate yield advantage is likely to remain intact on views that the Federal Reserve will boost its key rate by the same amount to 4.25 percent later in December and raise it again early next year.
The yen remains the weakest link among the three major currencies as the Bank of Japan is not seen pushing rates above near-zero percent anytime soon, despite data pointing to an increasingly buoyant Japanese economy.
The following are Reuters currency rates:
5pm today - 5pm Friday
NZ dlr/US dlr US69.60c - US69.42c
NZ dlr/Aust dlr A94.94c - A94.22c
NZ dlr/euro 0.5954 - 0.5894
NZ dlr/yen 83.41 - 82.82
NZ dlr/stg 40.69p - 40.32p
NZ TWI 72.49 - 72.07
Australian dollar US73.31c - US73.69c
Euro/US dollar US1.1691 - US1.1774
US dollar/yen 119.84 - 119.26
NZPA
<EM>Currency:</EM> NZ dollar hovers around A95c, continues push to US70C
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