The New Zealand dollar clung tenaciously to US47c at the close of the week's trading.
The local market closed with the kiwi at US47.02c, just a touch higher than Thursday's US46.86c close.
It traded a narrow US46.83-47.04c range while the aussie traded an even narrower band. It slipped to US55.25c against its US55.09c close on Thursday.
The kiwi was supported by corporate interest yesterday.
"It's still pretty much in the balance whether we are heading up or down from here," said a Westpac dealer. He said the kiwi was not finding much love from offshore and it was really up to other currencies whether it discovered friends again.
News that local business confidence levels had fallen for the fifth month running didn't help the kiwi, which is a commodity-based currency and doesn't fare well in times of poor economic growth. But dealers said that wasn't too much of a focus at the present.
On the crosses at the close of business, the kiwi was buying A85.09 cents (85.03 at yesterday's close), 55.40 yen (55.24), 30.37 pence (30.47), 0.7018 Swiss francs (0.7006), and 0.4784 euro (0.4768).
The aussie was trading at $1.1774 ($1.1767).
On the money market, 90-day bills were steady at 5.89 per cent, the trade-weighted index rose to 53.51 (53.38) and the monetary conditions index was at minus 436 (minus 448).
On the debt market yields fell a little, the April 2004 bonds finished at 5.71 per cent (5.75), the November 2006 bonds were at 6.06 per cent (6.11), and the November 2011 bonds were at 6.31 per cent (6.36).
- NZPA
<i>Currency:</i> Kiwi clings to US 47c at close
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