The New Zealand dollar seemed trapped in a holding pattern today, as the greenback stabilised ahead of more data out tonight.
At 5pm, the kiwi dollar was little changed from yesterday's close, sitting at US62.13c compared with US62.08c.
It closed on its session lows after a volatile time on equity markets .
Last night's consumer price figures out of the US hardened expectations of an interest rate hike, but they failed to bolster the US dollar ahead of capital flows data due out tonight.
At tonight's local close the US dollar was sitting at 115.02 yen (115.12) against the yen and at 1.2605 euro ($1.2567).
Regarding the kiwi, ANZ Investment Bank senior dealer Mark Elliott said he thought weaker positions on both sides had been "washed out".
"Everything's pretty fickle but whatever reason, the kiwi couldn't sustain a rebound off the lows yesterday and I would guess we're going to see the kiwi test the lows again tonight, down towards US61.50c."
The kiwi also looked weak against its other crosses, he said. At 5pm it stood at A84.14c from yesterday's A84.13c against the Australian currency, was 0.4931 (0.4938 euro), and at 71.48 yen (71.47). The TWI was at 62.68 (62.71).
The market is now looking for economic manufacturing survey data due out tomorrow, ahead of first quarter GDP figures next week.
The following are Reuters currency rates:
5pm today 5pm Wednesday
NZ dlr/US dlr US62.13c US62.08c
NZ dlr/Aust dlr A84.14c A84.13c
NZ dlr/euro 0.4931 0.4938
NZ dlr/yen 71.48 71.47
NZ dlr/stg 0.3373 0.3380
NZ TWI 62.68 62.71
Australian dollar US73.85c US73.75c
Euro/US dollar US1.2605 US1.2567
US dollar/yen 115.02 115.12
- NZPA
<i>Currency:</i> Kiwi in holding pattern ahead of more data
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