The New Zealand dollar closed firmer today after a choppy morning session and dealers said it may have another lash at breaking above US59c shortly.
It closed at US58.85c from US58.78c at 5pm yesterday and traded as high as US59.35c last night. That high prompted some profit-taking by locals who sold it down to US58.69 with one player particularly active.
Dealers said the kiwi was largely in the hands of the euro and Australian dollar but was making incremental gains against both.
One Wellington dealer said there was no clear trend but added: "I favour the topside."
BNZ currency strategist Sue Trinh said the kiwi's performance could be pinned to a market lull ahead of the release of key manufacturing, GDP and payroll data to be released in the US on Thursday and Friday.
"There's no fresh impetus or directional queues (for forex trading)," she said.
The euro closed in New Zealand at US$1.1444 from US$1.1503 at market's close last night. The US dollar was buying 119.85 yen (119.24).
The Australian dollar closed on US66.20c compared with its US66.43c close yesterday.
On the crosses, the kiwi was buying A88.85c (A88.51c yesterday), 70.52 yen (70.11), 36.20 pence (36.15), 0.7952 Swiss francs (0.7913), and 0.5140 euro (0.5112).
The monetary conditions index was at plus 282 (266), the trade-weighted index was at 62.79 (62.58) and 90-day bank bill yields were at 5.08 per cent (5.08).
The February 2005 yields were at 5.02 per cent (5.03), the November 2006s were at 5.27 per cent (5.27), and the November 2011s were at 5.74 per cent (5.74).
- NZPA
<i>Currency:</i> NZ dollar resumes climb
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