5.19pm
The New Zealand dollar today continued to retreat from its recent run up to US70c during today's local session.
At 5pm in Wellington the kiwi was buying US69.45c from US69.72c at 8.30am and US70.08c at 5pm yesterday. It traded between US69.33c and US69.75c today.
The aussie was at US74.45c (US74.94c at 5pm yesterday).
ANZ Investment Bank chief foreign exchange dealer Murray Hindley said the kiwi had fallen away in line with its aussie counterpart this afternoon.
"Aussie CPI (consumers price index) data was at the lower end of expectations so both currencies have given up some of their gains from the last 48 hours," Mr Hindley said.
Australia's CPI lifted 0.4 per cent in the September quarter, giving Australia an annual inflation rate of 2.3 per cent, figures released today showed.
Meanwhile, Mr Hindley said the market was waiting to gauge the tone of Reserve Bank governor Alan Bollard's statement accompanying the bank's Official Cash Rate Review (OCR) tomorrow morning.
The bank is universally expected to raise the OCR 25 basis points to 6.5 per cent but the market is looking for indications of the bank's future plans.
Meanwhile, the euro was at US$1.2735 this afternoon (US$1.2829), and the greenback was buying 107.05 yen (106.64).
On the crosses the kiwi was buying A93.28c (A93.55c), 0.5454 euro (0.5461), 37.88 British pence (38.01), 74.35 yen (74.71), and 0.8357 Swiss francs (0.8362).
The trade-weighted index was at 68.88 (69.19), while the monetary conditions index was at plus 914 (936).
On the money market, 90-day bank bill yields were at 6.76 per cent (6.75).
February 2006 bond yields were unchanged at 6.19 per cent, July 2009s were at 6.03 per cent (6.04), and April 2013s were unmoved at 6.04 per cent.
- NZPA
<i>Currency:</i> Kiwi continues retreat in tandem with Aussie
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