The New Zealand dollar held steady against a weakening greenback today but slipped against most other major currencies, hitting multi-year lows against the euro and sterling.
By 5pm the kiwi was buying US62.26c, from US62.25c at 5pm yesterday, having trading a wide range between US61.90c and US62.60c in just over 24 hours.
Against the Australian dollar the kiwi fell close to last week's four- and-a-half-year, ending at A81.55c from A81.89c yesterday evening.
Against the muscular euro, it was down closed on 0.4855 from 0.4882, its lowest since October 2002, while against sterling it ended at a two-and-a-half year low of 32.90 from 33.07 yesterday. The trade weighted index ended on 61.62 from 61.74.
ANZ Investment Bank said that with nothing to scare ratings agencies in yesterday's budget the New Zealand dollar had remained relatively unchanged.
The market has little on the local agenda next week to focus on.
The US dollar fell overnight after US Treasury Secretary John Snow once again urged China to increase flexibility on the yuan.
But in Tokyo trading it edged up against the yen, erasing earlier losses on upbeat Japanese growth data.
Investors felt the dollar's sell-off in the past month may have gone far enough for now, dealers said.
The Australian dollar finished the local session on A81.55c from A81.89c yesterday.
Rates:
5pm today 5pm Thursday
NZ dlr US62.26c US62.25c
NZ dlr/Aust dlr A81.55c A81.89c
NZ dlr/euro 0.4850 0.4882
NZ dlr/yen 69.12 68.90
NZ dlr/stg 32.90 33.07
NZ TWI 61.62 61.74
Australian dollar US76.33c US76.06c
Euro/US dollar US1.2836 US1.2754
US dollar/yen 110.82 110.66
- NZPA
<i>Currency:</i> Kiwi steady against dollar<b></b>
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