NZPA - The New Zealand dollar built on Tuesday's gains yesterday morning but sagged in slow afternoon trade.
After lifting to a session high of US47.43c, the kiwi fell to US47.03c at the close from US47.21c at Tuesday's close, while the aussie finished at US55.27c (US55.36c).
Following interest out of Australia, a US bank sold the kiwi, prompting others to take profits, dealers said.
On the crosses, the kiwi closed at A85.18 cents (85.27 at Tuesday's close), 55.66 yen (56.09), 30.72 pence (30.90), 0.7021 Swiss francs (0.7118), and 0.47.87euro (0.4838).
The aussie was trading at $NZ1.1745 ($NZ1.1725).
On the money market, 90-day bills were steady at 5.90 per cent, the trade-weighted index was at 53.63 (53.93) and the monetary conditions index was at minus 424 (minus 396).
On the debt market, the April 2004 bonds were at 5.80 per cent (5.76), the November 2006 bonds were at 6.09 per cent (6.11) while the November 2011 bonds were at 6.42 per cent (6.36).
- NZPA
<i>Currency:</i> Dollar weakens but holds above US47c
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