5.40pm
The New Zealand dollar spent today's session consolidating its gains above the key US69c mark, which it edged past on renewed weakness in the United States dollar last night.
At 5pm, the kiwi was at US69.16c (from US68.60c at 5pm yesterday), having opened at US69.02c.
It traded between US69.01c and US69.20c today.
BNZ currency strategist Sue Trinh said the kiwi today entrenched its position above the US69c mark.
"One factor that keeps on supporting it is the fact that the US dollar got taken to the cleaners last night," Ms Trinh said.
"Sentiment towards it (the US dollar) still remains very sour."
Renewed discontent about the United States' twin deficits, and its inability to attract more quality trade flows were behind those sentiments, Ms Trinh told NZPA today.
Rising oil and gold prices, weak equities markets and sagging bond yields were other factors.
"That's keeping the kiwi afloat despite the overhang of long positioning," she said.
The Australian dollar closed at US73.58c (US72.70c), the euro was buying US$1.2585 (US$1.2496), and the greenback was fetching 107.90 yen (108.64).
On the crosses the kiwi was buying A94.00c (A94.36c), 0.5496 euros (0.5489), 38.07 British pence (38.09), 74.64 yen (74.52) and 0.8449 Swiss francs (0.8444).
The trade weighted index was at 69.04 (68.85) and the monetary conditions index was at plus 924 (912).
In the money market, 90-day bank bill yields were at 6.74 per cent (6.75).
On the bond market, February 2006s were at 6.16 per cent (6.15), July 2009s were unchanged at 6.03 per cent and April 2013s were at 6.05 per cent (6.04).
- NZPA
<i>Currency:</i> NZ dollar spends day consolidating above US69c mark
AdvertisementAdvertise with NZME.