KEY POINTS:
The New Zealand dollar was little changed today and investors are now looking toward Tuesday's NZ Institute of Economic Research quarterly survey of business opinion for new insight on the economy.
By 4.30pm the NZ dollar was buying US75.70c from the US75.90c open. Both were up from US75.61c at 5pm on Friday.
The market got off to a quiet start because the US financial markets were closed on Friday.
Group of Eight leaders meeting in Japan were also not expected to say anything that would upset currency markets.
The New Zealand dollar eased slightly from the open but it found support at lower levels as it is still viewed as a relatively high yielding currency.
ANZ bank said the kiwi had gradually strengthened throughout the thin European and North American sessions during the weekend.
Broad range trading between US75.50c and US76.50c is expected this week.
The kiwi also lifted against other major currencies, buying 0.4837 euro at 4.30pm from 0.4812 at 5pm on Friday. Against the yen the NZ dollar was up to 81.15 from 80.72 at the local close.
Having dropped to a seven-year low against the Australian dollar on Friday afternoon around A78.50c, the kiwi managed to struggle to A78.75c today. The trade weighted index was up to 67.56 at 4.30pm from 67.32 on Friday.
Bank of New Zealand currency strategist Danica Hampton said risk appetites continued to feel vulnerable with rising fuel prices and falling equity markets.
That environment had so far limited the NZ dollar's ability to sustain any rally of note, she said.
CROSS RATES
NZ dlr/US dlr US75.70
NZ dlr/Aust dlr A78.75c
NZ dlr/euro 0.4837
NZ dlr/yen 81.15
NZ dlr/stg 38.30p
Australian dollar US96.12c
Euro/US dollar 1.5647
- NZPA