5.28pm
The New Zealand dollar softened further today after weakening overnight on an across-the-board rally by the United States dollar.
The kiwi was buying US67.79c at 5pm, compared with US67.85c at 8.30am today and US68.18c at yesterday's local close. It traded in a US67.70c to US67.90c range.
The Australian dollar was at US72.92c ( US73.32c last night).
A National Bank dealer said it had been a quiet session for the kiwi but there had been a fair amount of flow through the market.
"I think we could probably see a squeeze lower overnight down to US67.40c."
He picked the kiwi to continue to soften for the balance of the week, depending on local retail sales data tomorrow and Consumers Price Index data on Friday.
Meanwhile, the US dollar was buying 109.78 yen (109.69 at yesterday's close) and the euro was buying US$1.2313 (US$1.2366).
On the crosses, the kiwi was buying A92.99c (A93.01c), 0.5507 euros (0.5501), 37.88 British pence (37.95), 74.44 yen (74.74) and 0.8524 Swiss francs (0.8535).
The New Zealand dollar trade-weighted index (TWI) was at 68.48 (68.63), while the monetary conditions index was at plus 884 (896).
In the money market, 90-day bank bill yields were at 6.77 per cent (6.76). On the bond market, February 2006s were at 6.22 per cent (6.23), July 2009s were at 6.06 per cent (6.08) and April 2013s were at 6.12 per cent (6.13).
- NZPA
<i>Currency:</i> Kiwi continues to soften in quiet trade
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