The New Zealand dollar saw a little more action than usual for a Monday, although it looked likely to retreat overnight.
At 5pm the kiwi traded at its lows of US41.16c, almost unchanged from US41.17c at Friday's close, while the aussie traded at US50.54c from US50.85c.
One local dealer said the kiwi drifted off throughout the day, having peaked about 9am at US41.41c.
"The aussie's sitting around its lows again, which probably doesn't bode too well really - it looks like the aussie's going to come off (overnight) and we're going to follow it," he said.
"I think there'll be some resistance for the kiwi at the US41.00/05c level - it might take a wee while to get through that, but if the aussie gets through that we'll definitely go."
The aussie's fall was despite the release of positive figures showing that Australia's trade position had held up despite a weakening world economy.
Australia posted its fourth trade surplus in five months, with a surplus for the year of $A0.7 billion ($NZ0.87 billion), a turnaround on the deficit of $A14.4 billion for 1999/00.
On this side of the Tasman, the labour cost and participation data released on Friday - the only major figures out this week - is unlikely to move the kiwi.
On the crosses, the kiwi was at A81.44c (from A80.92c at Friday's close), 51.33 yen (50.96), 28.92 pence (28.81), 0.9200 marks (0.9155), 0.7094 Swiss francs (0.7072) and 0.4702 euros (0.4680).
The trade-weighted index was at 49.66 (49.46) while the 90-day bills were at 5.78 percent (5.81). The monetary conditions index tightened to minus 819 (minus 837).
Among the bonds, the March 2002s were at 5.65 percent (5.68), the April 2004s were at 6.35 percent (6.39), the November 2006s were at 6.53 percent (6.59), and the November 2011s were at 6.68 percent (6.74).
- NZPA
<i>Currency:</i> Kiwi closes on its lows, likely to drift off overnight
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