The New Zealand dollar was marooned yesterday in a market thinned by the long weekend in the United Kingdom.
It finished a torpid session at US46.72c, just a touch higher than Friday's US46.59c close. Its Australian counterpart firmed to US54.38c from its US54.07c local close on Friday.
"It's the same old, same old," said Deusche Bank dealer Phil Lindberg. He said the forex market was waiting for the equities market on Wall Street to give the lead.
The Kiwi dollar was stuck in a US46.60c-47.90c range while the Australian dollar was struggling to break above US54.50c.
London markets, closed yesterday for a bank holiday, put a dampener on international interest in the kiwi, HSBC dealer Peter Hunt said.
However, trade should pick up later in the week, with a string of local data due out, including overseas merchandise trade (imports) data for July, the Producers Price Index for the June quarter, the National Bank's Business Outlook, and a June quarter wholesale trade survey.
On the crosses, the kiwi was buying 0.8591 Australian dollars (0.8619), 55.91 yen (55.95), 30.69 pence (30.68), 0.7082 Swiss francs (0.7094), and 0.4812 euro (0.4814).
The aussie was trading at $NZ1.1641 ($NZ1.1604).
On the money market, 90-day bills finished steady at 5.91 per cent, the trade-weighted index was at 53.70 (53.68) and the monetary conditions index was steady at minus 418.
In the debt market, the April 2004 bonds closed at 5.75 per cent (5.76), the November 2006 bonds at 6.12 per cent (6.16), and the November 2011 bonds at 6.38 per cent (6.42).
- NZPA
<i>Currency:</i> Dollar looking for lead from wall street
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