The New Zealand dollar eased yesterday after some initial gains in early trade.
By 5pm the kiwi was down to US57.85c compared with its US58.20c close on Thursday. Its Australian counterpart also fell, reaching US64.82c from US65.30c.
The day's trading was "interesting" with the kiwi trading in a
US57.84c to US58.30 range according to a National Bank forex dealer.
"It started off in the morning with buyers coming in ... it shot up to US58.33c very quickly, taking out some stops just above US58.20c and then just drifted back.
"It then ran into some selling on the kiwi-aussie cross and that's when we went back down."
The dealer said the market was "pretty nervous" at the moment. "People don't know really what way it's going to go," he said.
Last night, all eyes would be on US unemployment data which could result in a whippy session for the kiwi, and the dealer picked it to trade in a range of US57.50c to US58.20c.
Meanwhile at 5pm in Wellington, the euro had softened to US$1.1233 from US$1.1330 at Thursday's local close. The dollar was buying 120.32 yen (120.16 yen at 5pm Thursday).
The kiwi against the aussie was at A89.26c (A89.20c) and on other crosses was buying 69.57 yen (69.99), 35.89 pence (36.10), 0.7912 Swiss francs (0.7962), and 0.5148 euro (0.5138).
The monetary conditions index was at plus 247 (258), the trade-weighted index was at 62.31 (62.50) and 90-day bank bill yields were at 5.08 per cent (5.07).
The February 2005 yields were at 5.07 per cent (5.00), the November 2006s were at 5.32 per cent (5.24), and the November 2011s were at 5.80 per cent (5.68).
- NZPA
<I>Currency:</I> Kiwi softer again after early gains
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