The New Zealand dollar today reversed some of its sharp losses earlier in the week.
"It's been a good performance from the kiwi today," said BNZ chief dealer Mike Symonds.
The kiwi closed at US65.63c against its US65.15c opening and US65.03c at 5pm yesterday.
The Australian dollar closed at US70.62c (US70.47c).
Mr Symonds said there had been good demand for the kiwi against the Australian dollar, with the cross rate rising to A92.95c from A92.28c yesterday.
There was also good demand for the kiwi out of Asia with talk of a uridashi (Japanese retail bond) issue.
Mr Symonds said the kiwi could test US66.20c again early next week and then the focus would turn on the Reserve Bank's September 9 Monetary Policy Statement. The tone of that statement would determine if the kiwi had another lash at US70c or fall back.
The euro closed at US$1.2106 (US$1.2068) and the greenback was fetching 109.57 yen (110.05).
On its other crosses, the kiwi was buying 0.5415 euro (0.5390), 36.48 British pence (36.24), 71.66 yen (71.58), and 0.8350 Swiss francs (0.8296).
The trade weighted index was at 66.81 (66.32), and the monetary conditions index was at plus 704 (701).
On the money market, 90-day bank bill yields were unchanged at 6.49 per cent. The bond market rallied and the yield curve flattened. February 2006 bond yields fell to 6.17 per cent (6.19), July 2009s were unchanged at 6.16 per cent, and April 2013s were static at 6.16 per cent.
- NZPA
<i>Currency:</i> Dollar reverses some of week's losses
AdvertisementAdvertise with NZME.