A narrow range for the New Zealand dollar today belied the level of interest from both buyers and sellers during the session.
By 5pm the kiwi was buying US59.53c from US59.33c last night, while its Australian counterpart was at US67.93c (US67.55c).
A local dealer said the kiwi had a busy day, although it traded within a narrow range of US59.48/56c.
"It's been at US59.50/55c for most of the day, it's clicked up a few points and down a few points -- aussie's done basically the same.
"There's good support at US59.20c, and sellers at US59.80c.
"Overnight it won't break out of that US59.20/80c range," he said.
The market largely ignored data out today showing New Zealand's current account deficit reached a three-year high, as it was as expected.
The deficit widened to $1.44 billion for the June quarter, Statistics New Zealand figures showed, compared with expectations of a $1.5 billion deficit.
Gross domestic product data for the June quarter to be released tomorrow are expected to confirm a slowing domestic economy.
In Tokyo the yen took a breather as wariness of intervention and a retreat in Tokyo share prices tempered a bull run that had taken the currency to three-year highs against the US dollar earlier in the week.
The euro rose to US$1.1475 by 5pm from US$1.1461 late yesterday, while the US dollar eased to 111.95 yen (112.14).
On the crosses, the kiwi was at A87.65c (A87.83c), 66.66 yen (66.54), 35.99 pence (35.94), 0.8056 Swiss francs (0.8054), and 0.5188 euro (0.5177).
The Australian dollar was buying $1.1409 ($1.1386).
The monetary conditions index was at plus 259 (248), the trade-weighted index was at 62.36 (62.25), and 90-day bank bill yields were at 5.18 per cent (5.17).
The February 2005 Government bond yields were at 5.18 per cent (5.25), the November 2006s were at 5.43 per cent (5.50), and the November 2011s were at 5.77 per cent (5.84).
- NZPA
<i>Currency:</i> Kiwi trades in narrow range despite wider deficit
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