5.37PM
The kiwi remained mired in a tight range today as it continued to wait on the US Federal Reserve's interest rate call tomorrow morning (NZT).
Westpac dealer Basil Payn said the kiwi traded in an 11-point range today of US66.03c to US66.14c.
He said the market was pretty much sidelined waiting on the Fed's announcement, with the kiwi fairly static against most of its major crosses as well as the greenback.
At 5pm today the kiwi was at US66.07c (from US66.04c at 5pm last night).
The Fed is expected to raise the US' benchmark rate by 25 basis points to 1.75 per cent tomorrow morning, following on from earlier increases in June and August. While a rate rise tomorrow is all but a certainty, the market will be watching for clues as to how many further rate increases to expect before the year-end.
On the domestic front, the kiwi will also take its cue from New Zealand's balance of payments, out on Thursday, and second quarter gross domestic product figures, out on Friday.
At 5pm the Australian dollar was at US69.98c (US69.93c), the euro was at US$1.2175 (US$1.2170), and the US dollar was buying 110.13 yen (110.06).
The New Zealand dollar trade-weighted index (TWI) was at 67.41 (67.38), while the monetary conditions index was at plus 799 (796).
On the crosses, the kiwi was buying A94.40c (A94.44c), 0.5426 euro (0.5227), 37.01 British pence (36.89), 72.76 yen (72.69), and 0.8408 Swiss francs (0.8393).
In the money market, 90-day bank bill yields were at 6.69 per cent (6.68 per cent). On the bond market, February 2006s were at 6.32 per cent (6.35), July 2009s were at 6.22 per cent (6.20) and April 2013s were at 6.19 per cent (6.17).
- NZPA
<i>Currency:</i> Kiwi holds tight as it waits on us rate call
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