The New Zealand dollar neared a 2-1/2 month high today, supported by expectations that interest rates will remain on hold for longer than expected.
At 5pm the New Zealand dollar hovered near the top of its day's range, at US63.50c against US63.35c yesterday.
"The kiwi's looking very strong against the crosses and will probably push higher overnight," said Mark Elliott, a senior dealer at ANZ Investment Bank.
The kiwi was upheld by yesterday's bullish jobs data, which prompted some economists to push back their forecast for interest rate cuts to the second quarter of next year.
The Australian dollar also firmed on strong jobs and trade data, closing at US76.87c (US76.55c on Thursday).
But the kiwi "didn't back off at all", moving to A82.62c from A82.34c yesterday.
Dealers said the kiwi had enough momentum to head to US63.80c-64c, and seemed well supported around US63.20c.
Looking ahead, the market will be waiting for second quarter retail trade figures on Monday, which Mr Elliott said could be a little softer, taking "the sting out of the kiwi".
Elsewhere the US dollar firmed against the yen as Japan's gross domestic product data came in below market expectations.
Rates:
5pm Friday 5pm Thursday
NZ dlr/US dlr US63.50c US63.35c
NZ dlr/Aust dlr A82.62c A82.34c
NZ dlr/euro 0.4969 0.4920
NZ dlr/yen 73.32 72.90
NZ dlr/stg 33.52p 33.24p
NZ TWI 63.27 62.92
Australian dollar US76.87c US76.91c
Euro/US dollar US1.2777 US1.2879
US dollar/yen 115.46 115.09
- NZPA
<i>Currency:</i> Kiwi well bid on all crosses
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