The New Zealand dollar drifted lower in largely featureless trade today after making a foray above the US59c mark last night.
By 5pm today the kiwi was buying US58.75c from US58.49c last night and its Australian counterpart was at US65.78c (65.54c).
ANZ Investment Bank senior dealer Mark Elliott said the kiwi closed near its lows today after trading in a range of US59c to US58.68c.
"Essentially we drifted off," he said.
"There was selling of the kiwi against the aussie first up this morning."
But later , "the aussie came under further selling pressure abroad and the kiwi just sort of fell away when the aussie weakened".
"Really there's nothing to mention, kiwi just sort of drifted off on the back of the aussie."
Tonight the kiwi was likely to drift off further,Mr Elliott said. He picked a range of US58.35c to US58.85c.
Against the aussie at 5pm today the kiwi was at A89.32c (A89.25c).
The euro, was at US$1.1191 at 5pm in Wellington from US$1.1113 last night.
The US dollar was buying 118.05 yen (118.63).
On the crosses at 5pm, the kiwi was buying 69.37 yen (69.37), 36.87 pence (36.85), 0.8180 Swiss francs (0.8143), and 0.5300 euro (0.5264).
The monetary conditions index was at plus 316 (290), the trade-weighted index was at 63.14 (62.93) and 90-day bank bill yields were at 5.11 per cent (5.13).
The February 2005 yields were at 5.28 per cent (5.27), the November 2006s were at 5.50 per cent (5.47), and the November 2011s were at 5.87 per cent (5.83).
- NZPA
<i>Currency:</i> Dollar falls in featureless trading
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