The kiwi paused for breath today after stretching to new three-and-a-half year highs yesterday.
The kiwi closed in light trading at US53.25c compared with its US53.47c close yesterday.
The aussie dollar continued to nearly hold its own, easing to US57.63c from US57.78c yesterday.
"The pace of the recent gains suggest a chance of consolidation is high," BNZ currency strategist Stu Ritson said of the New Zealand dollar.
The greenback regained ground with geopolitical concerns about Iraq and North Korea dominating sentiment, dealers said.
In Wellington, the euro was buying $US1.0507 ($US1.0515) as the European Central Bank kept interest rates static despite a flood of dismal economic data.
Continual talk about intervention in the yen kept the US dollar underpinned at 119.87 yen (118.97 yen).
Against its major trading partners, the kiwi was buying A92.40c (A92.31c), 0.5069 euro (0.5086), 63.84 yen (63.61), 33.15 pence (33.12), and 0.7395 Swiss francs (0.7407).
The Australian dollar rose to $NZ1.0820 ($NZ1.0813).
The trade-weighted index was at 59.37 (59.47), 90-day bank bills were at 5.93 per cent (5.91), and the monetary conditions index was at plus 87 (plus 96).
On the debt market, the April 2004s were at 5.75 per cent (5.74), the November 2006s were at 5.94 per cent (5.90), the November 2011s were at 6.19 per cent (6.14), and the April 2013s were at 6.22 per cent (6.17).
- NZPA
<i>Currency:</i> Kiwi pauses for breath just below 3-1/2 year highs
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