5.39pm
The kiwi dollar continued to grind out gains in local trade today, little affected by local inflation data which came in as expected.
At 5pm in Wellington the kiwi was buying US68.25c from US67.76c at the same time yesterday. It traded in a US68.01c to US68.36c range.
The kiwi had opened stronger this morning after the greenback fell overnight on news of another blowout in the US trade deficit.
Westpac chief currency dealer Basil Payn said the kiwi had then seen little effect from today's consumer price index inflation data which came in bang on economists' forecasts of a 0.6 per cent rise for the September quarter.
But the kiwi had seen continued buying through the course of the day out of Tokyo.
"So kiwi has remained pretty well supported above 68c."
He said the kiwi was likely to see more consolidation and offshore yield buying as the market turned its attention toward the Reserve Bank's interest rate call at the end of the month and the US election after that.
In the near term, Mr Payn expected kiwi to trade in a US68.00c to US68.50c range tonight.
Meanwhile, the kiwi was buying A93.60c at 5pm (A93.44c at 5pm yesterday).
The Australian dollar was at US72.95c ( US72.52c), while the euro was buying US$1.2397 (US$1.2357) and the US dollar was buying 109.51 yen (109.80).
On the other crosses, the kiwi was buying 0.5507 euros (0.5485), 37.98 British pence (37.77), 74.73 yen (74.41) and 0.8490 Swiss francs (0.8481).
The New Zealand dollar trade-weighted index (TWI) was at 68.75 (68.41), while the monetary conditions index was at plus 905 (882).
In the money market, 90-day bank bill yields were at 6.76 per cent (6.78). On the bond market, February 2006s were at 6.17 per cent (6.19), July 2009s were at 6.02 per cent (6.03) and April 2013s were at 6.04 per cent (6.06).
- NZPA
<i>Currency:</i> NZ dollar gains on greenback, little affected by CPI
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