The kiwi pushed back over the US60c mark in a busy day's trading today.
At 5pm the kiwi was fetching US60.55c (from US59.58c at 5pm yesterday), having ranged between US59.84c and US60.60c.
Meanwhile the Australian dollar recovered from a seven month low of US67.95c hit during recent trading and was buying US69.54c at 5pm (from US68.25c at 5pm yesterday).
The aussie rebounded on the back of news of economic growth in Japan, a major export market for Australia.
Chief foreign exchange dealer at ANZ Investment Bank Murray Hindley said the kiwi had been well bid on the back of a stronger aussie. He said the kiwi looked likely to keep its head above US60c overnight, finding support around US60.20 and could push up to US60.80c.
No major data is expected out of Europe or the US overnight.
After showing some stability in the aftermath of Monday's bombing in Iraq which killed the head of the governing council, the euro came under pressure yesterday.
The release of a German investor confidence survey showed a decline for a fifth consecutive month.
Meanwhile the greenback got a boost by the news thay US President George W Bush has renominated Alan Greenspan for a new term as Federal Reserve chairman.
At 5pm in Wellington, the greenback was buying 113.30 yen (114.11), and the euro was buying US$1.1973 (US$1.1987).
On the crosses, the kiwi was buying A87.11c (A87.31c), 34.24 British pence (33.79), 68.62 yen (68.00), 0.7772 Swiss francs (0.7628), and 0.5059 euros (0.4970).
The trade-weighted index was at 62.43 (61.74), while the monetary conditions index was at plus 343 (282).
On the debt market, 90-day bank bill yields were unchanged at 5.94 per cent.
The February 2006 yields were at 5.93 per cent (from 5.92 per cent), July 2009s were at 6.16 per cent (6.15), and April 2013s were at 6.30 per cent (6.27).
- NZPA
<i>Currency:</i> Kiwi pushes through US60c mark again
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