6.36pm
The kiwi traded in a tight range during today's local session, after gaining ground against the greenback overnight.
At 5pm today, the kiwi was at US66.02c (US65.80c), while the Australian dollar was at US69.83c (US69.61c).
A Wellington-based dealer said the kiwi's trading range today was US65.99c to US66.21c.
"It (the kiwi) gained overnight on some weaker US numbers, and pretty much for the most part of today it was confined to a very narrow range," the dealer said.
He said the kiwi was likely to remain range-bound in tonight's offshore session.
The greenback came under selling pressure overnight on weaker than expected economic data. The Philadelphia Federal Reserve's business conditions index for September was 13.4, much lower than the 28.5 in August and economists' expectation of a dip to 24.5.
The US Federal Open Market Committee is meeting next Tuesday and is widely tipped to raise rates by 0.25 percentage point.
On the domestic data front, the kiwi's rise was aided by the release of the ANZ-Business NZ Performance of Manufacturing Index (PMI) this morning, which was up to 58.8 in August, against 57.5 in July and 51.9 in August last year.
Meanwhile at 5pm, the euro was at US$1.2189 (US$1.2156), while the US dollar was buying 109.58 yen (109.93).
The New Zealand dollar trade-weighted index was at 67.29 (67.22), while the monetary conditions index was at plus 790 (785).
On the crosses, the kiwi was buying A94.57c (A94.53), 0.5416 euro (0.5413), 36.81 British pence (36.99), 72.34 yen (72.33), and 0.8376 Swiss francs (0.8350).
In the money market, 90-day bank bill yields were unchanged at 6.68 per cent. On the bond market, February 2006s were at 6.32 per cent (6.31), July 2009s were at 6.18 per cent (6.20), and April 2013s at 6.14 per cent (6.16).
- NZPA
<i>Currency:</i> Kiwi moves above US66c, trades in narrow range
AdvertisementAdvertise with NZME.