NZPA - The New Zealand dollar continued to tread water below US44c today in light US holiday-impacted trade.
"It was pretty quiet today," Bank of New Zealand forex manager Mike Symonds said.
"(Kiwi) closed towards the lows of the day in line with a slightly weaker aussie and euro.
"It really hasn't shown any enthusiasm today."
By 5pm the kiwi was at US43.56c from US43.77c at yesterday's close, having traded between US43.55c and US43.73c throughout the day.
The Australian dollar ended the local session at US52.51c (US52.81c), while the euro shed almost a cent to US90.11c (US90.90c).
With US investors sidelined by a Labour Day holiday overnight trading had been limited, Mr Symonds said.
Looking ahead, all eyes would be on tonight's National Association of Purchasing Management survey for August in the US and tomorrow's Reserve Bank of Australia rates decision.
"The market is certainly siding on the belief that we will see a rate cut from the RBA tomorrow, although there are a number of questions being asked about the justification for a rate cut given the recent economic data we have had in Australia," Mr Ball said.
The kiwi was expected to trade between US43.35c and US43.75c overnight ahead of that data.
On the crosses at 5pm the kiwi was buying A82.90c (A82.70c at yesterday's close) 0.4835 euros (0.4808), 51.79 yen (52.00), 30.06 pence (30.06), 0.9456 marks (0.9396), 0.7327 Swiss francs (0.7287).
The Australian dollar was worth $NZ1.2055, compared with $NZ1.2094 at yesterday's close.
The trade-weighted index was at 51.30 (51.32), 90-day bill yields were at 5.85 percent (5.84) and the monetary conditions index tightened to minus 651 (minus 649).
Among the bonds the March 2002s were steady at 5.68 percent, as were the April 2004s at 6.12 percent, the November 2006s were at 6.33 percent (6.34), and the November 2011s were at 6.50 percent (6.52).
- NZPA
<i>Currency:</i> Kiwi treads water below US44c
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