The kiwi continued to trade in a tight range against the US dollar today, but strengthened against the Australian dollar.
At 5pm today the kiwi was at US65.24c (from US65.11c at 5pm yesterday), having dipped as low as US64.86c during today's session.
Meanwhile the Australian dollar was at US72.33c (US72.41c) this afternoon.
A Wellington broker said after a couple of weak days for the kiwi/aussie cross, the New Zealand dollar had outperformed its Australian counterpart today.
"The kiwi/aussie cross has been under pressure for the last couple of days, it hit a low overnight, but has been relatively strong today," the broker said.
At 5pm the kiwi was buying A90.21c (A89.90c) after bottoming out at A89.76c overnight.
The broker said all eyes were now on key US data due out later tonight. Although yesterday the market virtually ignored New Zealand's consumer price index (CPI) which rose 0.8 per cent for the June quarter, and 2.4 per cent year-on-year, the US CPI for June is expected to have a bigger impact.
Until then the kiwi is likely to stick to recent ranges.
"It looks to me up until the US data comes out the kiwi will find support pretty much down around US64.90c and probably won't push much past US65.30/US65.35c," the broker said.
At 5pm today the euro was buying US$1.2344 (US$1.2361), while the greenback was buying 109.47 yen (109.52).
On the crosses, the kiwi was buying 35.22 British pence (35.18), 0.5275 euro (0.5266), 71.44 yen (71.28), and 0.8053 Swiss francs (0.8013).
Ninety-day bank bill yields were at 6.26 per cent (6.25), February 2006 bonds were at 6.01 per cent (6.02), July 2009s were at 6.08 per cent (6.09) and April 2013s were at 6.16 per cent (6.17).
The monetary conditions index was at plus 619 (614), while the trade-weighted index was at 65.70 (65.55).
- NZPA
<i>Currency:</i> Kiwi picks up against the Aussie
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