The New Zealand dollar traded quietly in a narrow range today as markets began to cool off in advance of the holiday season.
By 5pm in Wellington, the kiwi was at US64.65c (from US64.80c at 5pm last night), having traded between US64.58c and US64.90c.
"Everything's stuck in a range ahead of Christmas at this stage of the game", a Wellington forex dealer said.
"There's interest either end of the range for daytime traders but really there's not a lot going on".
One of the day's few features was a desultory run up in the kiwi-aussie cross which finished the day at A87.73c from A87.60c at 8.30am today and A87.53c at 5pm yesterday.
Otherwise, the kiwi was likely to remain stuck within a US64.50c to US65.00c range tonight, the dealer said.
Meanwhile, the Australian dollar eased to US73.70c (US74.05c), the euro was at US$1.2193 (US$1.2223), while the greenback was buying 108.30 yen as it was at the same time yesterday.
On the crosses, the kiwi was buying 0.5303 euro (0.5303 last night), 70.01 yen (69.54), 37.16 pence (37.16), and 0.8208 Swiss francs (0.8209).
The Australian dollar was buying $1.1399 ($1.1427).
The trade weighted index was at 65.25 (65.19), the monetary conditions index was at plus 498 (494), and 90-day bank bills were at 5.31 per cent (5.32).
On the debt market, April 2004 bonds were unchanged at 5.16 per cent, February 2006s were unchanged at 5.66 per cent, and November 2011s were at 6.03 per cent (6.07).
- NZPA
<i>Currency:</i> Kiwi mired in narrow pre-holiday range
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