The New Zealand dollar posted mild gains against both the United States and Australian dollars in today's session, a dealer said.
At 5pm, the kiwi was fetching US70.28c from US69.84c at 5pm yesterday, having ranged between US69.99c and US70.37c.
Against the aussie, the kiwi was at A92.29c (A92.27c), having traded between A92.25c and A92.49c.
BNZ currency strategist Sue Trinh said yesterday's higher than expected December quarter Consumer Price Index (CPI) had underpinned the kiwi's performance today.
CPI inflation for December rose 0.9 per cent, while annual CPI inflation for 2004 rose to 2.7 per cent, near the top end of the Reserve Bank's 1-3 per cent target range.
"The kiwi's performed quite well over the past 36 hours," Ms Trinh told NZPA today.
"Today we've seen quite a bit of kiwi bought because of the yield advantage the kiwi has over the aussie," she said.
The kiwi's gains against the aussie had supported its cross with the greenback, she said.
The New Zealand dollar trade-weighted index was at 68.48 (68.08), while the monetary conditions index was at plus 890 (858).
On its crosses, the kiwi was fetching 0.5402 euro (0.5360), 37.53 British pence (37.41), 72.06 yen (71.54) and 0.8330 Swiss francs (0.8275).
Meanwhile, the US dollar was at 102.55 yen (102.44), and the euro was at US$1.3011 (US$1.3030).
Looking ahead, next week's official cash rate announcement by the Reserve Bank of New Zealand was likely to have some effect on the kiwi's performance.
Analysts were picking RBNZ governor Alan Bollard to take a hawkish stance in his accompanying statement.
On the money markets, 90-day bank bill yields were at 6.80 per cent (6.78), November 2006 bond yields were at 6.28 per cent (6.23), July 2009s were at 6.03 per cent (6.02), and April 2015s were at 5.95 per cent (5.98).
- NZPA
<EM>Currency:</EM> NZ dollar posts mild gains against greenback and aussie
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