The New Zealand dollar traded a little softer today.
At 5pm the New Zealand dollar was buying US58.20c from US58.85c at yesterday's local close, while the aussie was at US65.30c (US66.20c).
BNZ currency strategist Sue Trinh said the kiwi traded between US58.05c and US58.37c today.
"It pretty much hung around that US58.20-25c region for the better part of the day," she said.
"We favour a little bit more downside in the kiwi. We'll probably see a retest of recent range lows of US57.50c in the coming sessions."
Ms Trinh said there was quite a lot of "event risk" going into tonight's offshore sessions with "data splurge" from the US in the form of GDP, Chicago PMI data to be released.
Ms Trinh expected to see the kiwi trade in a range of US57.80c to US58.40c tonight.
Meanwhile at 5pm in Wellington the kiwi against the aussie was A89.20c (A88.85c at market's close yesterday).
The euro was at US$1.1330 (US$1.1444).
The US dollar was buying 120.16 yen (119.82).
On the crosses at 5pm, the kiwi was buying 69.99 yen (70.52), 36.10 pence (36.20), 0.7962 Swiss francs (0.7952), and 0.5138 euro (0.5140).
The monetary conditions index was at plus 258 (282), the trade-weighted index was at 62.50 (62.79) and 90-day bank bill yields were at 5.07 per cent (5.08).
The February 2005 yields were at 5.00 per cent (5.02), the November 2006s were at 5.24 per cent (5.27), and the November 2011s were at 5.68 per cent (5.74).
- NZPA
<i>Currency:</i> Dollar softens with further downside risk
AdvertisementAdvertise with NZME.