5.15pm
In a ho-hum domestic forex session the New Zealand straddled the key US71c mark before slipping to its south-side, a broker said.
At 5pm, the kiwi was fetching US70.97c (from US70.28c at the same time yesterday), having ranged between US70.94c and US71.15c. It began the local session at US71.07c.
BNZ currency strategist Sue Trinh said the kiwi had today traded in a narrow range against the United States dollar.
"It eased off to the south a little bit after opening," she told NZPA today.
"Having said that, we had a pretty liquid market with pretty good two-way interest keeping the kiwi straddling that US71c area."
The two-way interest came from speculative accounts and offshore corporate demand, Ms Trinh told NZPA.
Against the Australian dollar, the kiwi was buying A90.79c (A90.57c), up on its opening level of A90.55c.
"We've seen a lot of interest on that cross today... but when the kiwi-aussie gets around that A91c area... we find some selling," Ms Trinh said.
"The medium term for kiwi-aussie is to the south-side," she said, noting it could fall to the A88.50c area.
Meanwhile, the aussie was fetching US78.17c (US77.60c), the euro was at US$1.3030 (US$1.2965), and the greenback was buying 103.31 yen (104.17).
On the kiwi's main crosses, it was buying 0.5447 euro (0.5421) 38.23 British pence (37.96), 73.32 yen (73.20 yen) and 0.8249 Swiss francs (0.8223).
The trade-weighted index was at 68.89 (68.52) and the monetary conditions index was at plus 912 (886).
On the money market, 90-day bank bill yields were at 6.73 per cent (6.74), February 2006 bond yields were at 6.27 per cent (6.24), July 2009s were at 6.04 per cent (6.00) and April 2013s were at 6.06 per cent (6.04).
- NZPA
<i>Currency:</i> Dollar straddles US71c before slipping southwards
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