5.38pm
The New Zealand dollar traded quietly in a narrow range today following its move higher overnight.
At 5pm today the kiwi was buying US67.37c from US67.02c at the same time yesterday, having traded in a slender US67.26c to US66.44c range.
Last night the kiwi benefited as a bubbling oil market pushed the US dollar lower.
BNZ forex manager Mike Symonds said the market had been less active today, " certainly a lot quieter than what we saw overnight".
Mr Symonds said the kiwi saw some profit-taking this morning but held its own this afternoon as it coat-tailed on Japanese demand for the Australian dollar.
As widely expected, the Reserve Bank of Australia today left its official cash rate unchanged at 5.25 per cent, following yesterday's monthly board meeting.
The Aussie was buying US72.43c (US72.07c at 5pm yesterday).
Mr Symonds said the near term outlook for the kiwi was relatively upbeat, "albeit we're waiting to see how the greenback reacts to key US payrolls data on Friday."
Elsewhere, the euro was buying US$1.2315 (US$1.2270) and the greenback was buying 111.12 yen (110.87).
On the crosses the kiwi was fetching A93.02c (A92.95c), 37.76 British pence (37.54) 74.85 yen (74.35), 0.8503 Swiss francs (0.8480), and 0.5471 euros (0.5462).
The New Zealand dollar trade-weighted index (TWI) was at 68.25 (67.97), while the monetary conditions index was at plus 869 (850).
In the money market, 90-day bank bill yields were at 6.77 per cent (6.78). On the bond market, February 2006s were at 6.27 (6.25), July 2009s were at 6.15 per cent (6.14) and April 2013s were at 6.14 per cent (6.11).
- NZPA
<i>Currency:</i> Kiwi trades quietly after overnight rise
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