5.53pm - By KATE PERRY
A day of consolidation for the New Zealand dollar saw the kiwi close higher today compared with the same time on Friday.
At 5pm in Wellington the kiwi was buying US64.40c from US63.40c at 5pm on Friday.
The kiwi's trading range was between US64.10c and US64.92c today, after trading as low as US63.94c during Friday's offshore sessions.
The aussie was at US73.40c from US72.62c at 5pm on Friday.
Westpac's chief currency dealer Basil Payne said all eyes were on the European markets, to gauge reaction to the shock win by the socialist party in Spain's general election.
"It's too hard to tell at this stage. People are still digesting the aftermath of the bombing and any effects it may have on either the euro or the US dollar," he said.
Last week's warning by Reserve Bank governor Alan Bollard that the bank may intervene to curb excessive movement in the local currency seems to have been digested by the market.
"Comments by the governor that they wouldn't have intervened up until this stage, pretty much put the parameters below what our lows have been and the previous high, so I think the market has discounted that for now," Mr Payne said.
Elsewhere, the US dollar was buying 110.77 yen at 5pm (110.97 yen at 5pm on Friday), while the euro was at US$1.2224 (US$1.2281).
On the crosses the kiwi was buying A87.74c (A87.46c), 0.5269 euro (0.5169), 71.34 yen (70.41), 35.75 British pence (35.30), and 0.8251 Swiss francs (0.8085).
The trade-weighted index was at 61.14 (64.26), while the monetary conditions index was at plus 508 (440).
Ninety-day bank bill yields were unchanged at 5.50 per cent.
The February 2006 yields were at 5.28 per cent (5.29), July 2009 bonds were at 5.51 per cent (5.50), while April 2013s were at 5.67 per cent (5.65).
- NZPA
<i>Currency:</i> Kiwi firms up as eyes turn to Europe
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