5.30pm
The kiwi ended the day little changed from where it started against the greenback, but saw good gains against the aussie, a dealer said today.
At 5pm the kiwi was at US66.64c (US66.40c yesterday), having opened this morning at US66.56c. The kiwi jumped to US66.82c shortly after the GDP announcement, before settling back around the US66.60c mark, where it spent most of the day. The dealer said the strong second quarter gross domestic products (GDP) figure out today was in line with expectations and should endorse the view another rate rise was on the cards next month.
He said the kiwi could move up as high as US66.90c in tonight's offshore session, finding support around US66.45c to US66.50c.
But as far as today's local session was concerned the dealer said the main movement was on the kiwi/aussie cross. "Certainly against the Australian dollar we have moved up 30-odd points from the (session) low," he said. At 5pm the kiwi was buying A93.55c, from A93.32c at 8.30am today and A93.75c at 5pm yesterday.
New Zealand's GDP grew by 0.9 per cent in the second quarter, the 16th straight quarterly increase in GDP, Statistics New Zealand said today. The figure was in line with analysts' expectations.
The data followed on from the wider than expected current account deficit of $1.8 billion reported yesterday.
Meanwhile at 5pm the Australian dollar was at US71.23c (US70.75c), the euro was at US$1.2283 (US$1.2272), and the greenback was buying 110.52 yen (110.75).
The New Zealand dollar trade-weighted index (TWI) was at 67.66 (67.55), while the monetary conditions index was at plus 819 (811).
On the other crosses, the kiwi was fetching 0.5426 euros (0.5412), 37.09 British pence (37.00), 73.65 yen (73.53), and 0.8393 Swiss francs (0.8360).
In the money market, 90-day bank bill yields were unchanged at 6.70 per cent.
On the bond market, February 2006s were at 6.35 per cent (from 6.32 per cent), July 2009s were at 6.21 per cent (6.20) and April 2013s were at 6.19 per cent (6.16).
- NZPA
<i>Currency:</i> Kiwi jumps against aussie
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