The New Zealand dollar drifted through trading today as it consolidated recent gains against the US dollar, a forex expert says.
At market's close, the New Zealand dollar was buying US59.38c from US59.28 at 5pm yesterday, while the aussie was at US68.08c (US67.80c).
Against the aussie, the kiwi was A87.23c (A87.44c).
The euro was at US$1.1545 at 5pm in Wellington today, from US$1.1550 at the same time last night.
BNZ currency strategist Sue Trinh said the New Zealand dollar had drifted today in line with a lower euro and aussie.
"The kiwi is basically consolidating its recent gains above the US59.20c region," Ms Trinh told NZPA today.
Since peaking at US59.63 in overnight trading on July 1 the kiwi had pulled back, today ranging between US59.34c and US59.53c.
"We're not too concerned so long as it holds above the US59.00/20c region," Ms Trinh said.
That region would be support for the next 24 hours, she said.
Meanwhile, the US dollar was buying 118.41 yen (119.32).
On the crosses, the kiwi was buying 70.32 yen (70.74), 35.69 pence (35.63), 0.7999 Swiss francs (0.7988), and 0.5156 euro (0.5133).
The monetary conditions index was at plus 292 (292), the trade-weighted index was at 62.77 (62.74) and 90-day bank bill yields were at 5.19 per cent (5.19).
The February 2005 yields were at 4.84 per cent (4.87), the November 2006s were at 4.96 per cent (4.97), and the November 2011s were at 5.30 per cent (5.31).
- NZPA
<i>Currency:<?i> Kiwi drifts in trading, consolidating after recent gains
AdvertisementAdvertise with NZME.