The New Zealand dollar clung above US42c at its close yesterday having coat-tailed a stronger Australian dollar Thursday.
The kiwi closed at US42.09c, near the bottom of a narrow range in what dealers said was a routine session. It closed yesterday at US42.12c.
The Australian dollar ended at US51.62c compared with its US51.46c on Thursday.
A Wellington dealer said that while it was a good sign the kiwi had held above US42c but it was only when it broke above US42.40c and the Australian dollar broke above US51.80c that one could say it was definitely in a higher range.
On the kiwi crosses, the New Zealand dollar was buying A81.62c (A81.86c at Thursday's close), 55.87 yen (55.81), 29.43 pence (29.47), 0.7150 Swiss francs (0.7158), and 0.4822 euro (0.4827). The aussie was buying $NZ1.2251 (1.2217).
The trade weighted index closed at 51.22 (51.24), the monetary conditions index at minus 751 (minus 748), and 90-day bank bills at 4.92 per cent (4.93).
On the debt market, March 2002 bonds closed at 4.75 per cent (4.75), April 2004s at 5.82 (5.89), November 2006s at 6.41 per cent (6.46), and November 2011s at 6.67 per cent (6.72).
- NZPA
<i>Currency:</i> Kiwi hangs in above US42c
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