The New Zealand dollar traded in a wide range today as traders took profits across a number of currencies.
By 5pm in Wellington the kiwi was buying US67.42c from US67.84c at 8.30am and US67.96c at 5pm yesterday, having traded in a US67.30c to US68.44c range.
The Australian dollar was at US75.67c (US76.34c 5pm yesterday).
"It's been quite a volatile day," Westpac chief currency dealer Basil Payn said.
"We were at the highs this morning and during the course of the Asian day we've seen quite a bit of profit taking on long kiwi positions. We've been seeing the same thing across the board - the euro's been under a bit of pressure, so's the aussie."
Tonight Mr Payn expected to see more of the same for the kiwi.
"Having said that there still seems to be good buying interest down there at US66.80c - US67c, and its reasonably well offered up around US68c, but I don't expect too much more to happen ahead of 9am tomorrow."
The Reserve Bank makes its Monetary Policy Statement tomorrow with market opinion marginally favouring chances of a 25 basis point increase to 5.50 per cent.
Meanwhile at 5pm the greenback was buying 111.27 yen (111.12), while the euro was at US$1.2317 (US$1.2442).
On the crosses, the kiwi was fetching A89.12c (89.05c), 0.5476 euro (0.5462), 75.03 yen (75.53), 36.89 British pence (36.60), and 0.8637 Swiss francs (0.8636).
The trade-weighted index was at 67.72 (67.87), while the monetary conditions index was at plus 718 (729).
The 90-day bank bill yields were unchanged at 5.66 per cent.
The February 2006 yields were at 5.49 per cent (5.50), July 2009 bonds were at 5.66 per cent (5.68), and April 2013s were at 5.78 per cent (5.79).
- NZPA
<i>Currency:</i> Kiwi trades in wide range ahead of possible OCR rise
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