The New Zealand dollar was traded in quite large volumes yesterday but in a tight range, a currency dealer said.
The kiwi ended up at 46.12USc from its 45.98c close on Tuesday. The kiwi-aussie cross rate came off slightly, the dealer said, down at 78.45c from 78.73c. However, the Australian dollar was firm, closing up at 58.78USc. The aussie was largely uninfluenced by the Australian consumer price index data, which as expected showed the CPI rose 0.8 per cent in the quarter, translating to a 3.2 per cent annual rise.
It is the first time the figure has exceeded the Reserve Bank of Australia's upper limit since 1996.
- NZPA
Firmer kiwi trades in tight range
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