The New Zealand dollar stalled during today's session following a good performance offshore last night.
At 5pm the New Zealand dollar was buying United States 58.48c from US58.36c at 5pm yesterday, while the Australian dollar was at US67.05c (US66.94c).
ANZ chief foreign exchange dealer Murray Hindley said the kiwi traded between US58.45/59c during the day.
"It's been a moderate trading day today. There was a little bit of interest in the (trans-Tasman) cross around A87.30c, to sell kiwi and buy aussie, but generally there was nothing substantial.
"The break of US58.20c overnight saw some early exporter activity ... but it seems to have cleared out this afternoon," Mr Hindley said.
"Overnight I would suggest support around US58.25/30, and US58.60c resistance."
In Tokyo today, the greenback held steady after strong US consumer prices data eased worries about deflation grabbing hold of the US economy.
The better than expected consumer price index also rolled back expectations that the US Federal Reserve would cut rates by a sharp 0.50 percentage point at its policy meeting next week.
The benchmark US interest rate is at a four-decade low of 1.25 per cent, compared with New Zealand's 5.25 per cent.
In Wellington at 5pm the euro was at $US1.1790 from $US1.1844 last night, while the US dollar was buying 118.09 yen (117.67 yen).
On the crosses at 5pm the kiwi was buying A87.20c (A87.18c at 5pm yesterday), 69.05 yen (68.68 yen), 34.69 pence (34.69), 0.7650 Swiss francs (0.7608), and 0.4958 euro (0.4928).
The monetary conditions index was at plus 194 (181), the trade weighted index was at 61.51 (61.35) and 90-day bank bill yields were at 5.21 per cent (5.23).
The February 2005 yields were at 4.74 per cent (4.73), the November 2006s were at 4.78 per cent (4.75), and the November 2011s were at 5.09 per cent (5.04).
- NZPA
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