The New Zealand dollar settled in a narrow range just below 41USc yesterday, held back by typically quiet Monday trade and a lack of local data.
"Today, because it is Monday, we haven't had too much trading activity and so we haven't managed to make it back up above 41USc," one local currency dealer said.
Australian Producer Price Index data out yesterday had little impact on the Australian and New Zealand currencies.
The Australian Bureau of Statistics found producers were paying almost 9 per cent more for their imported materials in the year ended June, due largely to the lower Australian dollar.
The aussie was barely moved by the data, ending at 50.78USc from 51.41c at Friday's close.
On the local front this week, merchandise trade figures due out at 10.45 am on Thursday are the only local data of note.
A Reuters poll released yesterday is picking that New Zealand will post its first annual trade surplus in more than six years, boosted by a buoyant agricultural sector.
- NZPA
<i>Currency:</i> Lack of activity caps kiwi gains
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