The kiwi traded in a tight range today as it continued to consolidate recent gains.
At 5pm the kiwi was fetching US65.73c (from US65.75c at the close on Friday night), having traded between US65.70 and US65.89c during the day.
The Australian dollar was at US72.45c (US72.35c).
Westpac chief currency dealer Basil Payn said there had been some offshore buying of the kiwi, based on yield.
But the market has calmed down from the spikes seen recently as it waits for data due out later this week.
The June quarter Consumer Price Index is due on Thursday, and will be watched for pointers as to what the Reserve Bank's next move will be. The central bank will make its next official cash rate announcement on July 29 and is widely expected to hike rates by 25 basis points to 6.0 per cent.
Meanwhile, euro was at US$1.2398 (US$1.2416), while the greenback was fetching 107.94 yen (107.93).
On the crosses the kiwi was buying A90.75c (A90.86c), 35.38 British pence (35.44), 0.5303 euro (0.5296), 70.97 yen (71.06), and 0.8049 Swiss francs (0.8038).
The monetary conditions index was at plus 644 (647), while the trade weighted index was at 65.97 (65.99).
On the money market, 90-day bank bill yields were at 6.22 per cent (6.23 per cent). February 2006 bonds were at 5.97 per cent (5.98), July 2009s were unmoved at 6.04 per cent, and April 2013s were at 6.14 per cent (6.15).
- NZPA
<i>Currency:</i> Kiwi stuck in tight range
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