5.51pm
The kiwi rose slightly today as the greenback slid in the aftermath of the re-election of George W Bush as US president.
BNZ currency strategist Sue Trinh said the market had chosen to react to the re-election of President Bush by bidding stocks up, selling bonds and selling the US dollar.
'With the US presidential election out of the way, the key with markets is that other factors are more important than who sits in the presidential seat."
"The settling dust from the US elections has seen the US dollar run into trouble as the market moves to focus on the still persistent and more robust medium term structural US dollar negatives," Ms Trinh said in commentary today.
At 5pm in Wellington, the kiwi was buying US68.90c from US68.44c at 5pm yesterday having traded between US$68.88 to US$69.11c during the day.
Westpac currency dealer Basil Payn said the kiwi opened the day at its highs but drifted lower throughout the day.
He said there had been a lot of interest in the kiwi/aussie cross, with investors looking to buy aussie and sell kiwi. At 5pm the kiwi was buying A91.09, from A91.78 at 5pm yesterday, having ranged between A91.10c to A91.40c.
"We're just seeing a continuation of last week. We probably had a pause because of that election, but we are just see continued interest to buy aussie against kiwi which is just keeping the kiwi a little bit subdued against the US dollar," Mr Payn said.
Meanwhile at 5pm today the aussie was buying US75.63c (US74.57c at 5pm yesterday), the euro was buying US$1.2820 (US$1.2705), and the greenback was buying 106.29 yen (106.23).
On the kiwi's other crosses it was buying 0.5375 euro (0.5387), 37.29 British pence (37.25), 73.24 yen (72.70), and 0.8228 Swiss francs (0.8261).
The NZ dollar trade-weighted index was at 67.90 (67.78) and the monetary conditions index was at plus 841 (832).
On the money market, 90-day bank bill yields were unchanged at 6.74 per cent.
February 2006 bond yields were at 6.21 per cent (6.20 per cent), July 2009s were at 6.01 per cent (6.00) and April 2013s were at 6.03 per cent (6.02).
- NZPA
<i>Currency:</i> Kiwi gains against us, falls against Aussie
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