The New Zealand dollar mooched to a quiet close after trading in a tight 15-point range yesterday.
At 5pm the kiwi traded at US46.72c, compared with its Friday night close of US47.02c. The aussie was at US54.85c, compared with US55.25 on Friday.
ANZ chief foreign exchange dealer Murray Hindley said the looming Labour Day holiday was deflating global markets.
"It looks like due to the New York holiday everything's a bit on hold," Mr Hindley said.
"With the lead-in to September 11, I notice there's a few people talking about risk aversion trades - we may see a little bit of weakness in the kiwi for the next week or so."
The kiwi traded in a tight range of US46.71/86c.
"There's been very little interest in it. Overnight I think there's a chance we'll see it dribble off to around US46.50c, and I think you'd sell it at around US46.80c," he said.
Both the kiwi and aussie lost some ground against the US dollar over the weekend as concerns about global growth deepened. During offshore trade the kiwi nosed up to US47.07c and found support around US46.62c.
In offshore trade, the greenback firmed slightly after healthy US economic data on Friday, showing manufacturing in the Midwest expanded for the seventh straight month in August.
Traders said they were waiting for a national manufacturers' report to be released today to see whether the rebound was merely a Chicago-area story or a nationwide trend.
On the crosses at 5pm the kiwi was buying A85.19 cents (85.09 at Friday's close), 55.45 yen (55.40), 30.17 pence (30.37), 0.7013 Swiss francs (0.7018), and 0.4763 euro (0.4784).
The aussie was trading at $NZ1.1739 ($NZ1.1774).
On the money market, 90-day bills were at 5.88 per cent (5.89), the trade-weighted index was at 53.34 (53.51) and the monetary conditions index was at minus 451 (minus 436).
On the debt market yields, the April 2004 bonds were at 5.69 per cent (5.71), the November 2006 bonds were at 6.04 per cent (6.06), and the November 2011 bonds were at 6.29 per cent (6.31).
- NZPA
<i>Currency:</i> Kiwi slips off end of quiet day's trading
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