The New Zealand dollar traded quietly in a narrow range today, following the aussie and euro around as they moved against the US dollar.
At 5pm in Wellington the kiwi was at US63.65c from US63.96c at yesterday's close having traded in a slim US63.61c to US63.80c range. The Australian dollar was at US71.80c from US72.12c late yesterday.
"A very quiet day", ANZ Investment Bank senior dealer Mark Elliott said. "There was no real flow of notes, the kiwi's just tracking the euro and aussie as they ebb and flow versus the US dollar".
Despite good US GDP data overnight, Mr Elliott said there was "no real follow through buying of US dollars...the world still wants to sell US dollars despite the good data".
Tonight, the kiwi was likely to trade between US63.35c and US64.5c he said.
Meanwhile at 5pm in Wellington, the euro was buying US$1.1812, (US$1.1804 at 5pm yesterday) while the greenback was buying 109.48 yen (109.38).
On the crosses, the kiwi was buying A88.68c (A88.69c), 0.5398 euro (0.5419), 69.79 yen (69.96), 37.48 pence (37.65), and 0.8380 Swiss francs (0.8424).
The Australian dollar was buying $1.1264 ($1.1274).
The trade weighted index was at 65.31 (65.49), while the monetary conditions index was at plus 513 (525), and 90-day bank bills were at 5.41 per cent (5.39).
On the debt market, April 2004 bonds were unchanged at 5.28 per cent, February 2006s were also unchanged 5.78 per cent, and November 2011s were at 6.16 per cent (6.20).
- NZPA
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