The kiwi closed little changed against its Australian and US counterparts after an uneventful local session today.
At 5pm in Wellington the kiwi was buying A92.82c, from A92.85c at 8.30am today and A93.80c at 5.30pm yesterday. Against the greenback it was buying US72.61c from US72.60c this morning and US72.17c last night, having ranged between US71.50c and US71.73c today.
ANZ Investment Bank dealer Glenn Mackersy said today's session had been one of quiet consolidation for the kiwi.
"There's been absolutely no flow, no interest, it's all very quiet. It's probably just taking a breather after the last few days of action."
Yesterday, the kiwi gained almost three quarters of a cent against the aussie despite an interest rate hike by the Reserve Bank of Australia.
Mr Mackersy said the local market's attention was again focused across the Tasman with Australian retail sales data out today.
"The number came in slightly lower than expected but it was certainly not disastrous as the last few days have been."
If the Reserve Bank of New Zealand next week chose to hike its official cash rate " obviously the interest rate differential will again favour the kiwi and the kiwi-aussie should press higher", Mr Mackersy said.
Meanwhile the Australian dollar was buying US78.23c at 5pm (US78.17c), the greenback was at 104.92 yen (104.62 yen) and the euro was at $US1.3131 ($US1.3170).
On its other major crosses at 5pm today, the kiwi was buying 0.5529 euros (0.5509), 37.97 British pence (37.83), 76.19 yen (75.92) and 0.8528 Swiss francs (0.8470).
The Trade Weighted Index (TWI) was at 70.41 (70.25) and the monetary conditions index was at plus 1037 (1024).
On the money markets, 90-day bank bill yields were at 6.89 percent (6.87), July 2009 bonds were at 6.24 percent (6.21) and April 2015s were at 6.12 percent (6.10).
- NZPA
<EM>Currency:</EM> NZ dollar little changed in quiet local session
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