The New Zealand dollar closed little changed today after trading a narrow range.
At 5pm, it was buying US63.51c, virtually unchanged from its opening and the same as yesterday's close.
Having lost half a cent yesterday on worse-than expected trade data, it clung to a US63.34-US63.56c range today.
ANZ Bank said the lack of follow-through selling highlighted the demand for higher yield currencies.
With a failure to break back above US64c, the kiwi seemed destined to end the week trapped within tight ranges, ANZ said.
Vulnerability on the downside had not reduced, with yield and potential mergers and acquisition activity being the main supporting factors for now.
Traders said the market was quiescent ahead of a speech by US Federal Reserve chairman Ben Bernanke for possible clues about where US rates are headed.
Against the Australian dollar, the kiwi ended on A83.46c from A83.51c and the traded weighted index closed on 63.52 from 63.53.
Expected falls against the Australian dollar were being delivered and once support at A83.33c was eradicated, a move to A82.75c should occur, but that would take time to unfold, ANZ said.
The US dollar rose slightly when investors brushed off a fall in US new home sales as the market has been factoring in a slide in the housing sector, traders said.
The euro inched up to $US1.2776. It had slipped to around $US1.2745 as dealers trimmed long positions in the euro.
The single currency eased despite a key business climate index from Germany's Ifo institute beating expectations.
The European Central Bank is expected to keep raising rates after bumping them up to 3 percent earlier this month, helping to narrow the euro's rate gap with the dollar and improve its yield advantage over the yen.
Reuters currency rates:
5pm today 5pm yesterday
NZ dlr/US dlr US63.51c US63.52c
NZ dlr/Aust dlr A83.46c A83.51c
NZ dlr/euro 0.4971 0.4980
NZ dlr/yen 74.11 73.98
NZ dlr/stg 33.64p 33.60p
NZ TWI 63.52 63.53
Australian dollar US76.08c US76.05c
Euro/US dollar US1.2776 US1.2767
US dollar/yen 116.68 116.42
- NZPA
<i>Currency:</i> NZ dollar ends unchanged after trading tight range
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