The New Zealand dollar managed a tepid strengthening yesterday but, with just a seven point range, dealers were left idle.
The unit closed at 43.03USc (42.80c at Friday's close).
Jon Clarke, a director at treasury consultancy Greenwich Financial Services, said the kiwi was not the only range-bound currency as people elsewhere also marked time awaiting the next piece of market moving data.
There is little on the horizon in that regard either at home or abroad, and with Americans on holiday Mr Clarke expected another dull day today.
"Even the yen and the euro are in well-defined ranges at the moment, and are showing no signs of making a decisive break," Mr Clarke said.
Mr Clarke noted nothing new came out of a G7 meeting at the weekend.
Indeed, if anything the signals for the greenback became even more confused with weekend industrial production and capacity utilisation data showing falls while producer prices rose.
Mr Clarke said with little data due in the week ahead the dollar bloc was left with only technical signals as people pondered the outlook for the coming month.
Bond yields continued Friday's rally as confidence grows that the Reserve Bank will ease official interest rates on March 14.
- NZPA
<i>Currency: </i>Dollar range-bound but bonds rally
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