The New Zealand dollar traded quietly today, losing ground against a broadly stronger US dollar.
The Kiwi dollar closed near the top of a narrow range at US63.82c, compared with US64.07c at yesterday's close - well off the 3- 1/2 month peak of US64.42c reached last Wednesday.
Against the Aussie, the Kiwi was pushed lower by Australian merger and acquisition activity, easing to A83.71c (compared with A84.12c yesterday) .
"Two weeks ago we were at A80.50c and now we're at A83.70c - we have been as high as A84.40c," one dealer said.
The market is now looking to tomorrow's July trade figures which are expected to widen.
On the global scene, the US dollar continued to extend gains against the euro after Chicago Fed Reserve president Michael Moskow said interest rate hikes may be needed to keep inflation in check.
Investors will however be looking to Federal Reserve chair Ben Bernanke for confirmation on Friday for signs on whether there will be an interest rate move in September.
The euro was trimmed to $US1.2789 ($US1.2870 yesterday) after economic expectations in Germany hit a five-year low.
Against the yen, the greenback rose to 116.42 yen (116.14 yen).
Rates:
5pm today 5pm yesterday
NZ dlr/US dlr US63.82c US64.07c
NZ dlr/Aust dlr A83.71c A84.12c
NZ dlr/euro 0.4989 0.4976
NZ dlr/yen 74.29 74.42
NZ dlr/stg 33.81p 33.79p
NZ TWI 63.76 63.88
Australian dollar US76.23c US76.16c
Euro/US dollar US1.2789 US1.2870
US dollar/yen 116.42 116.14
- NZPA
<i>Currency:</i> Kiwi eases against firmer Greenback
AdvertisementAdvertise with NZME.