5.30pm
The New Zealand dollar turned in a solid performance against its United States counterpart in a session that saw better than expected economic data released.
At 5pm, the kiwi was at US65.87c (US65.71c), having started at US65.62.
The Australian dollar was at US69.86c (US69.74c).
BNZ currency strategist Sue Trinh said the kiwi climbed steadily through the domestic session.
"That pretty stellar retail sales number came out (this morning), which saw the kiwi jump about 20 points higher against the US dollar," she told NZPA.
Statistics New Zealand this morning released a stronger than anticipated rise in seasonally adjusted retail sales of 1.2 per cent in July.
Economists had expected seasonally adjusted sales to fall by around 0.2 per cent.
That data "pretty much locked and loaded" the likelihood of the Reserve Bank (RBNZ) raising the official cash rate (OCR) to 6.50 per cent in late October.
Last week the RBNZ lifted the OCR by 25 basis points to 6.25 per cent.
"The question is whether the RBNZ will raise (the OCR) again in December," Ms Trinh said.
Meanwhile, the kiwi consolidated its recent gains against the aussie, closing at A94.29c (A94.24c).
"That whole interest rate story is serving to keep the kiwi very solid across the board," Ms Trinh said.
The trade-weighted index was at 67.07 (66.89), while the monetary conditions index was at plus 773 (754).
The euro was buying US$1.2260 (US$1.2269), while the US dollar was at 109.94 yen (109.62).
Against the other crosses, the kiwi was buying 0.5374 euro (0.5357), 36.65 British pence (36.57), 72.43 yen (72.05), and 0.8293 Swiss francs (0.8263).
In the money market, 90-day bank bill yields were at 6.68 per cent (6.63).
On the bond market, February 2006s were at 6.29 per cent (6.27), July 2009s were unchanged at 6.19 per cent, and April 2013s at 6.15 per cent (6.16).
- NZPA
<i>Currency:</i> Kiwi turns in solid performance against US dollar
AdvertisementAdvertise with NZME.