The New Zealand dollar consolidated below the US68c mark in muted trade today after a volatile week.
At 5pm in Wellington the kiwi was at US67.70c (from US67.30c at 5pm last night), having traded in a narrow US67.65c to US67.80c range. The Australian dollar was at US77.71c (US77.45c).
Holidays today in Asian markets following yesterday's Chinese new year meant trade remained thin. "It's been quite quiet", a Wellington dealer told NZPA.
Today's stolid session was in contrast to previous days where the kiwi traded as low as US65.19c on Monday after the greenback found a rare firm patch.
The market's restrained tone was likely to continue on Monday due to the holiday in Auckland to mark the region's anniversary.
Nevertheless a re-test of the US68c level was "in train, especially with the euro being so well bid at the moment or the US dollar under pressure across the board", the dealer said.
Meanwhile, the euro was at US$1.2716 (US$1.2675) and the greenback was buying 106.18 yen (106.89)
On the crosses, the New Zealand dollar was buying A87.10c (A86.90c), 0.5322 euro (0.5311), 71.86 yen (71.96), 36.71 British pence (36.70), and 0.8339 Swiss francs (0.8319).
On a trade weighted basis, the New Zealand dollar was at 66.50 (66.32).
The monetary conditions index was at plus 594 (585), and 90-day bank bills were at 5.33 per cent (5.36).
On the debt market, February 2006 bond yields were at 5.44 per cent (5.46), July 2009 bonds were at 5.71 per cent (5.74), and April 2013 bonds were at 5.87 per cent (5.85).
- NZPA
<i>Currency:</i> Kiwi has a rest after wild week
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