The New Zealand dollar was treading water yesterday, ending the local session where it began.
At 5pm, the kiwi was at US41.81c, bang on its 9am level and down slightly on last night's 41.85c close.
"(Kiwi) has actually held up relatively well given that the aussie has been under a bit of pressure," a local currency dealer said.
"There has been a little bit of two-way interest during the day and that has kept it relatively stable."
Dealers said the local unit was still vulnerable to moves lower, as its Australian and European counterparts remained under pressure.
The aussie ended the local session at US50.69c (US51c late Tuesday), while the euro was at US89.09c (US89.07c).
"We are looking for a bit of a downward move over the next few days, towards the US41c level," the local dealer said.
Overnight the kiwi was tipped to waiver between US41.60c and US41.90c.
On the crosses at 5pm, the kiwi traded at A82.48c (A82.06c at yesterday's close), 0.4693 euros (0.4696), 51.25 yen (51.32), 29.28 pence (29.37), 0.9178 marks (0.9185), and 0.6937 Swiss francs (0.6956).
The Australian dollar bought $NZ1.2121, compared with yesterday's close of $NZ1.2187.
The 90-day bill yields were at 5.09 percent (5.10), the trade-weighted index was steady at 50.03 and the monetary conditions index was at minus 853 (minus 851).
Among the bonds, the March 2002s were at 4.92 per cent (4.93), the April 2004s were at 5.26 per cent (5.30), the November 2006s were at 5.85 per cent (5.88) and the November 2011s were at 6.44 per cent (6.45).
- NZPA
<i>Currency:</i> Kiwi closes flat as Aussie under pressure
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