6.20pm
The New Zealand dollar closed firmer today as the market once again looked to the G7 meeting in Florida at the weekend for direction.
At 5pm, the kiwi was buying US68.09c (from US67.83c at 5pm yesterday), having traded between US68.07c and US68.46c.
The Australian dollar was at US76.12c (US76.29c).
Westpac currency strategist Johnathan Bayley said the currency markets had been quiet ahead of the G7 meeting.
Market watchers were expecting the G7 meeting to decide against moving to support the weak US dollar.
This morning, strong United States economic data boosted the greenback but its gains were offset by worries about the labour sector.
Equally robust numbers out of the euro zone also limited its rise.
Mr Bayley said the kiwi had slowly weakened during the session.
This week, the session ranges had been "fairly tame" and the expected volatility had not been seen.
Meanwhile, the kiwi had made some gains against the aussie today, closing at A89.49c (A88.93c).
The appreciation could be pinned to the Reserve Bank of New Zealand raising its benchmark cash rate to 5.25 per cent, while the Reserve Bank of Australia held its at 5.25 per cent.
"That's a cross that's sensitive to relative policy expectations and those have twisted in favour of the kiwi against the aussie," Mr Bayley said.
He did not expect the kiwi to make significant progress above A90c.
In other market news, the Bank of England and the European Central Bank will release decisions on interest rates later today.
On the other crosses, the kiwi was buying 0.5437 euro (0.5421), 71.87 yen (71.49), 37.19 British pence (36.97), and 0.8520 Swiss francs (0.8497).
On a trade weighted basis, the New Zealand dollar was at 67.37 (67.06).
The monetary conditions index was at plus 688 (664), and 90-day bank bills were unchanged at 5.61 per cent.
February 2006 bond yields were at 5.61 per cent (5.63), July 2009 bonds were unchanged at 5.83 per cent and April 2013s were at 5.96 per cent (5.99).
- NZPA
<i>Currency:</i> Dollar closes firmer against greenback
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