6.10pm
The New Zealand dollar finished today's session higher as investors indulged in profit taking against the US dollar, a broker said.
At 5pm, the kiwi was fetching US63.33c (from US62.51c at 5pm yesterday), having traded between US63.23c and US63.55c.
Early this morning the kiwi hit US63.73c, its highest level since May 6.
The Australian dollar was at US71.80c (US71.12c).
BNZ currency spokesman Phil Burns said the kiwi had opened on its session highs against the greenback, also gaining against the aussie.
"The kiwi-yen, kiwi-aussie saw supply into the market and the day's lows at US63.23c," Mr Burns told NZPA today.
Since closing at US59.90c on May 17, the kiwi has gained 5.7 per cent up to 5pm today.
Mr Burns said the tight range in today's session was "a breather, a pause" for the kiwi as investors took profits after its recent run-up.
Meanwhile, a seven-year high in retail sales and a 16-year low in unemployment have market watchers predicting the Reserve Bank will lift its 5.50 per cent benchmark rate by 25 basis points in June.
ANZ Investment Bank chief foreign exchange dealer Murray Hindley said the rise in the kiwi was due to global concerns, such as rising oil prices and the Iraq situation.
At 5pm, the euro was buying US$1.2272 (US$1.2150) and the greenback was buying 110.66 yen (111.45).
On the crosses, the kiwi was buying A88.21c (A87.90c), 34.45 British pence (34.34), 70.08 yen (69.69), 0.7881 Swiss francs (0.7921), and 0.5160 euros (0.5146).
The trade-weighted index was at 64.13 (63.70), while the monetary conditions index was at plus 477 (445).
On the money market, 90-day bank bill yields were at 5.97 per cent (5.98), February 2006 bonds were at 5.86 per cent (5.87), July 2009s were at 6.05 per cent (6.06) and April 2013s were at 6.19 per cent (6.20).
- NZPA
<i>Currency:</i> NZ dollar consolidates as investors take profits: broker
AdvertisementAdvertise with NZME.