KEY POINTS:
The New Zealand dollar was hovering around the level it went into the long weekend at in early trading today.
By 8am, the kiwi was at US72.03c, unchanged from Thursday.
Though the predominant trend in global currency markets is a weak US dollar, in the short term US dollar strength is putting a cap on the Kiwi dollar.
ANZ said the US dollar should remain strong this week ahead of a Group of Seven meeting at the weekend.
"Stronger US March employment data was the lifeline that the US dollar required to recover from a recent battering," ANZ said.
The US economy added 180,000 jobs in March and February's number was revised higher. This was a "huge blow to economic bears", ANZ said.
Locally the focus may turn to the NZIER's quarterly survey of business opinion to be released this morning.
ANZ expected the Kiwi dollar to encounter resistance at US72.50c and have support at US71.50c.
Against Aussie the kiwi was unchanged at A88.15c. On its trade weighted index it was up at 70.36 from 70.26 on Thursday.
Reuters currency rates:
8am today 5pm Thursday
NZ dlr/US dlr US72.03c US72.03c
NZ dlr/Aust dlr A88.15c A88.15c
NZ dlr/euro 0.5394 0.5389
NZ dlr/yen 85.96 85.47
NZ dlr/stg 36.71p 36.46p
NZ TWI 70.36 70.24
Australian dollar US81.71c US81.70c
Euro/US dollar 1.3359 1.3365
US dollar/yen 119.35 118.65
- NZPA