6.30pm
The New Zealand dollar pushed back over the key US70c mark today fuelled by steady demand from Asian investors.
At 5pm, the New Zealand dollar was buying US70.25c from US70.10c at 5pm Friday, while the aussie was at US79.05c (US79.09c on Friday).
The kiwi traded between US69.98c and US70.40c during the day.
BNZ currency strategist Sue Trinh said there had been steady demand from Asia for the New Zealand dollar.
"There has been a lot of demand for currencies that offer a high yield pick up or high relative interest rates. So you have seen the New Zealand dollar, the Australian dollar and the likes of the British pound all perform very well relative to the US dollar," Ms Trinh told NZPA.
The kiwi was buying A88.87c at 5pm (88.63c) while the aussie was buying $1.1255 ($1.1277).
The euro was at US$1.2726 at 5pm in Wellington from US$1.2811 at 5pm Friday.
The euro consolidated today after big sales on Friday following rumours that the European Central Bank was unhappy with the strength of the currency and planned an intervention.
"Whether that was true or not...the market was spooked by it and saw the euro fall a full cent in less than half an hour (on Friday) so the euro is currently just consolidating those losses," Ms Trinh said.
The US dollar was buying 105.47 yen (105.40 yen).
There were no major data releases expected until US inflation data later this week.
Today is President's Day in the US and the public holiday is likely to lead to a quiet currency market overnight.
On the crosses at 5pm, the kiwi was buying 74.05 yen (73.90 yen), 37.28 pence (37.06), 0.870 Swiss francs (0.867), and 0.5517 euro (0.5473).
The monetary conditions index was at 778 (760), the trade-weighted index was at 68.62 (68.37) and 90-day bank bill yields were at 5.34 per cent (5.59 per cent).
The February 2006 yields were at 5.47 per cent (5.49), the July 2009 bonds were at 5.69 per cent (5.71), and the April 2013s were at 5.84 per cent (5.86).
- NZPA
<i>Currency:</i> NZ dollar pushes back over US70c mark
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