5.00pm
The kiwi dollar today closed at the top of a 30-point range for the session at US65.03c, having closed yesterday at US64.77c. It has now climbed over 8 per cent in the past three weeks.
Westpac chief dealer in New Zealand Basil Payn said the rise was essentially the result of US dollar weakness with both the euro and Australian dollar having strong sessions.
"It's been a day of weakness for the US dollar," he said.
The market was very quiet with the US taking a long weekend for Independence Day. The US dollar has been under selling pressure since Friday's weak US jobs data.
The kiwi's high yield has helped it along as did a new Uridashi-kiwi issue -- a yen bond denominated in New Zealand dollars.
The aussie closed on US71.55c compared with its US71.18c opening and US71.38c at 5pm yesterday.
The euro rose to US$1.2309 compared with its $1.2284 opening while the dollar closed here at 109.44 yen from its 109.08 yen opening.
On the crosses, the kiwi was buying A90.83c (A90.75c), 35.47 British pence (35.34), 0.5281 euro (0.5256), 71.18 yen (70.44), and 0.8030 Swiss francs (0.7970).
The trade-weighted index was at 65.76 (65.41), while the monetary conditions index was at plus 628 (602).
On the money market, 90-day bank bill yields were unchanged at 6.22 per cent and on the bond market, the February 2006s were at 6.03 per cent (6.02), July 2009s were at 6.12 per cent (6.11) and April 2013s were at 6.25 per cent (6.24).
- NZPA
<i>Currency:</i> NZ dollar above US65c
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