The New Zealand dollar took a breather yesterday after hitting 40-month highs this week.
At 5pm, the kiwi closed at US52.99c compared with US53.16c Tuesday and a three-year high of US53.35c on Monday.
It was stuck in a narrow 10-point range yesterday, mirroring a lacklustre day for the blossoming Australian dollar.
A local dealer said interest in the New Zealand dollar had been minimal but it still retained a "positive uptrend". He picked it to trade between US52.90c and US53.15c overnight.
The Australian dollar was also in consolidation mode, closing at US57.41c as the price of oil and gold subsided.
It eased from Tuesday's close of US57.50c after jumping more than half a cent this week on US dollar weakness.
The kiwi continued to slip on the aussie cross rate, down to A92.31c from A92.49c on Tuesday. On the reverse cross, the Australian dollar strengthened to $NZ1.0833 from $NZ1.0816.
On other crosses, the kiwi was buying 0.5089 euro (0.5090), 63.61 yen (63.50), 33.01 pence (33.09), and 0.7413 Swiss francs (0.7417).
The trade-weighted index was at 59.25 (59.34), 90-day bank bills were at 5.93 per cent (5.94), and the monetary conditions index was at plus 78 (plus 87).
On the debt market, the April 2004s were flat at 5.75 per cent, the November 2006s were at 5.86 per cent (5.92), the November 2011s were at 6.13 per cent (6.17), and the April 2013s were at 6.19 per cent (6.20).
- NZPA
<i>Currency:</i> Kiwi takes a breather after 40-month highs
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