The New Zealand dollar traded quietly in a narrow range during today's local session, but looked likely to press higher tonight, a dealer said.
By 5pm in Wellington the kiwi was at US65.55c from US65.71c at 8.30am and US65.36c at 5pm last night. It traded between US65.55c and US65.73c.
"We've just had a very, very tight trading range, with no flow of note," a Wellington dealer said.
The local currency has risen in recent days on renewed weakness in the greenback as the US Federal Reserve Bank signals it will take a cautious approach to interest rate rises.
Despite today's muted trade the dealer said the kiwi would probably rise further tonight. "The market's trending higher quite nicely," he said.
Meanwhile, the greenback was buying 108.83 yen (108.70 at 5pm yesterday). The euro, which hit a three-month high against the greenback last night, was buying US$1.2355, (US$1.2329).
The aussie was at US72.06c (US71.79c) and the kiwi was buying A90.99c (A91.05c).
On the other crosses the kiwi was buying 35.37 British pence (35.46), 0.5307 euro (0.5312), 71.35 yen (71.09), and 0.8058 Swiss francs (0.8057).
The trade-weighted index was at 66.01 (65.91), while the monetary conditions index was at plus 648 (641).
On the money market, 90-day bank bill yields were unchanged at 6.23 per cent. February 2006 bonds were unchanged at 5.99 per cent (6.02), July 2009s were at 6.06 per cent (6.10) and April 2013s were at 6.18 per cent (6.25).
- NZPA
<i>Currency:</i> Kiwi trades in narrow range on thin volume
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