KEY POINTS:
The NZ dollar paused below two-week highs, unmoved by slightly weaker housing data.
The Kiwi ended the day at US69.61c after trading tightly, compared with a two-week peak of US69.73 and a close yesterday of US69.38c.
"There's no fresh news about and that housing data is pretty much in line with market expectations," Murray Hindley of ANZ Investment Bank said.
"Until we get some fresh data we'll continue to trade those ranges."
Real Estate Institute data out today showed median house prices fell 0.9 per cent in January and sales eased but were still historically strong.
The kiwi dollar also ignored stronger manufacturing data, with the performance of manufacturing index (PMI) rising in January despite strength in currency.
The New Zealand dollar gained against the Aussie at A88.70c (compared with A88.52c yesterday), and against most other trading currencies except for the resurgent yen.
With no domestic data due next week, and a public holiday on Wall St on Monday, traders were expected to focus overseas.
Today, the greenback has been pinned down by a combination of strong Japanese data and weak US data.
The US dollar was trading at 119.38 yen, little changed yesterday's one-month low of 119.17 yen, after data that showed Japan's economy grew faster than expected during the last quarter of 2006.
The euro was fairly static at US$1.3138 (US$1.3135) as weak American industrial and mid-Atlantic manufacturing data pushed the US dollar down, offsetting a warning from Federal Reserve chairman Ben Bernanke that the US economy might be stronger than it appeared.
Many Asian markets, including Hong Kong and South Korea, are shut on Tuesday and Wednesday for Chinese New Year.
Reuters currency rates:
5pm today 5pm yesterday
NZ dlr/US dlr US69.61c US69.38c
NZ dlr/Aust dlr A88.70c A88.52c
NZ dlr/euro 0.5299 0.5283
NZ dlr/yen 83.10 83.34
NZ dlr/stg 35.67p 35.33p
NZ TWI 68.83 68.67
Australian dollar US78.48c US78.38c
Euro/US dollar 1.3138 1.3135
US dollar/yen 119.38 120.15
- NZPA