5.41PM
After slipping early in today's local session the New Zealand dollar pushed back up over US65c this afternoon.
At 5pm in Wellington the kiwi was buying US65.30c from US64.69c at 5pm yesterday, having traded in a US64.90c to US65.30c range today.
The aussie was buying US70.23c (US69.65c).
BNZ currency strategist Sue Trinh said the kiwi started off on the back foot this morning, slipping under US65c under pressure from importers. But it tracked back up this afternoon on the back of some light demand from Asia.
Ms Trinh said she expected the kiwi to keep its head above US65c during tonight's offshore session, saying US65c to US65.20c seemed to be a key pivot level for the kiwi at the moment.
"It seems to always track back towards there as a bit of a resting spot," Ms Trinh said.
Offshore trading was thin last night, due to a market holiday in London, and disruptions in New York surrounding the Republican convention.
Looking ahead, Ms Trinh said the key data point for the market in general this week was US payrolls due out on Friday night
Meanwhile, the euro was at US$1.2082 (US$1.1996) and the greenback was fetching 109.62 yen (110.35).
On the crosses, the kiwi was buying A92.98c (92.83c), 0.5405 euro (0.5393), 36.30 British pence (36.21), 71.55 yen (71.39), and 0.8316 Swiss francs (0.8296).
The trade weighted index was at 66.58 (66.24), and the monetary conditions index was at plus 712 (725).
On the money market, 90-day bank bill yields were at 6.51 per cent (6.50).
February 2006 bond yields were at 6.19 per cent (6.20), July 2009s were at 6.18 per cent (6.21), and April 2013s were at 6.20 per cent (6.22).
- NZPA
<i>Currency:</i> Kiwi pushes back through US65c
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