The New Zealand dollar today eked out some mild gains thanks to weakness in the United States dollar, a dealer said.
At 5pm, the kiwi was at US72.38c (from US72.25c at the same time yesterday), having ranged between US72.10c and US72.40c.
It began today's session at US72.06c, from an overnight low of US71.15c.
A currency spokesman for BNZ said the kiwi's recovery today was encouraging.
"It's been a solid day for the kiwi... the moves that we've seen today are really just mirroring those that we've seen in the big (US) dollar," the spokesman told NZPA today.
The Australian dollar, which closed at US77.73c (US77.50c), had followed a similar course to the kiwi, he said.
"From here the kiwi still looks in reasonable shape for an extension of this recent move higher, possibly on towards US72.70c," he said.
"At this stage we believe the kiwi is just testing the upper end of its likely trading range for the next couple of weeks."
At 5pm, the euro was at US$1.2920c (US$1.2980c), and the greenback was at 107.38 yen (107.65).
Meanwhile, the kiwi was fetching 77.71 yen (77.76), 0.5603 euro (0.5566), 38.24 British pence (38.20), 0.8673 Swiss francs (0.8620), and A93.10c (A93.22c).
The trade-weighted index was at 70.89 (70.75), while the monetary conditions index was at plus 1089 (1079).
On the money markets, 90-day bank bill yields were at 7.06 per cent (7.08), July 2009 bonds were at 6.14 per cent (6.19) and April 2015s were at 6.00 per cent (6.07).
- NZPA
<EM>Currency:</EM> NZ dollar makes mild gains on US dollar weakness, says broker
AdvertisementAdvertise with NZME.