The New Zealand dollar continued its rebound today from Friday's eight-session low against the US dollar, and at 5pm was trading close to US64c.
The kiwi gained 20 ticks against the US dollar, but was subdued against other major currencies, fetching A83.87c from A83.95c on Monday night, 0.4988 euro from 0.4983, and was flat at 74.67 yen. The TWI was at 63.85 from 63.83.
The US dollar pulled back from one-month highs against the yen as market players awaited minutes of the Federal Reserve's meeting earlier this month for clues on the US interest rate outlook.
The Fed is expected to keep interest rates unchanged again next month and investors are sensitive to any clues about the central bank's policy bias beyond its September 20 meeting.
The yen has taken a beating after data last week showed a surprisingly sharp slowdown in Japan's mild inflation that prompted investors to scale back expectations for more Bank of Japan rate increases.
With Japanese overnight rates at just 0.25 per cent, the data gave market players even more reason to dump the yen in favour of currencies with higher yields, driving the pound to eight-year highs against the Japanese currency.
Domestic data is light this week, with the highlight the National Bank of NZ Business Outlook to be released at 1am on Wednesday.
Reuters currency rates:
5pm today 5pm Monday
NZ dlr/US dlr US63.97c US63.78c
NZ dlr/Aust dlr A83.87c A83.95c
NZ dlr/euro 0.4988 0.4983
NZ dlr/yen 74.67 74.67
NZ dlr/stg 33.68p 33.73p
NZ TWI 63.85 63.83
Australian dollar US76.23c US75.90c
Euro/US dollar US1.2823 US1.2798
US dollar/yen 116.76 117.08
- NZPA
<i>Currency:</i> Kiwi continues mild rebound against US dollar
AdvertisementAdvertise with NZME.