The New Zealand dollar had another quiet local session today, trading in a tight range as a lack of data from the US provided little direction for the market.
By the 5pm close in Wellington, the kiwi was at US59.55c from US59.40c last night, while the aussie was at US68.53c (US67.91c).
BNZ currency strategist Sue Trinh said the kiwi traded in a US59.45c to US59.62c range today.
"The market has been relatively subdued", she said.
Ms Trinh said the kiwi remained driven by the US dollar and the dearth of data from that country this week meant the kiwi was likely to remain at, or near current levels.
"But out of New Zealand you've got the Quarterly Survey of Business Opinion and also Retail Sales later in the week, which may provide some directional cue".
Ms Trinh expected the kiwi to trade in a range tonight of US59.30c to US59.80c.
In Wellington by 5pm, the euro was at US$1.1710 from US$1.1565c late yesterday, while the US dollar eased to 110.02 yen (110.91).
On the crosses, with the kiwi buying A86.91c (A87.48c), 66.14 yen (65.89), 35.57 pence (35.78), 0.7866 Swiss francs (0.7939), and 0.5088 euro (0.5136).
The Australian dollar was at $1.1509 ($1.1432).
The monetary conditions index was at plus 221 (230), the trade-weighted index was at 61.86 (61.98), and 90-day bank bill yields were at 5.18 per cent (5.21).
The February 2005 government bond yields were at 5.30 per cent (5.33), the November 2006s were unchanged at 5.56 per cent, and the November 2011s were at 5.90 per cent (5.91).
- NZPA
<i>Currency:</i> Another quiet day for Kiwi
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