The New Zealand dollar consolidated above the US64c mark today and dealers said it should retain that strength overnight.
The kiwi dollar closed at US64.04c, below its close yesterday of US64.15c.
The kiwi has increased against most currencies this week as domestic data supported New Zealand interest rates.
The kiwi-aussie cross has particularly been gaining traction, closing today at A84.18c against yesterday's A83.65c.
Mark Elliott, an ANZ Bank technical analyst, said the kiwi dollar should be capped around present levels "but we have a broadly weak US dollar".
The ASB said there could be further near-term gains as a short market has been surprised by the generally resilient data.
Recent falls in global commodity prices, led by oil prices, could complicate the recent New Zealand dollar bounce, it added.
However, Mr Elliott said the kiwi dollar had failed to break beyond US64.50c in recent months, and most observers believed the rally would be short-lived.
Meanwhile, the greenback continues to lose ground against most currencies, as mixed data this week reinforced expectations that the Federal Reserve would keep US rates on hold in the near-term.
With a light data calendar next week, dealer expect the kiwi dollar to take its cue from offshore markets.
Reuters currency rates:
5pm today 5pm Thursday
NZ dlr/US dlr US64.04c US64.15c
NZ dlr/Aust dlr A84.18c A83.65c
NZ dlr/euro 0.4992 0.4990
NZ dlr/yen 74.27 74.18
NZ dlr/stg 33.96p 33.82p
NZ TWI 63.92 63.84
Australian dollar US76.08c US76.68c
Euro/US dollar US1.2829 US1.2853
US dollar/yen 115.96 115.67
- NZPA
<i>Currency:</i> Kiwi consolidates above us64c
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