KEY POINTS:
The New Zealand dollar failed to recover today against the greenback after the kiwi slipped overnight from US69.40c to US68.60c.
After poking back above US69c around 6am the kiwi remained trapped in a tight range in subdued trading. At 5pm it was buying US68.85c, having barely dropped below US68.80c during the day.
New Zealand data out today seemed to have little impact on the currency in the face of a stronger US dollar.
Manufacturing sales were shown to have risen a seasonally adjusted 2.7 per cent in the September quarter, but economists commented that production had been weak.
Other figures indicated the seemingly unstoppable rise in house prices continued in November, with the Real Estate Institute putting the median house price at $330,000 from $324,000 in October.
That news was seen as increasing the chances of an interest rate hike by the Reserve Bank next month.
In today's trading the kiwi was seen to be supported at US68.50c with resistance at US69.10c, after a dip in offshore trading as the greenback gained.
Against other currencies the NZ dollar was also little changed during the day. At 5pm it was buying A88.06c, the same as at 8am today. Against the euro it was at 0.5236 from 0.5238, and against the yen at 81.15 from 81.12. The trade weighted index was at 67.94 from 67.97.
It had been thought the kiwi might have a tilt at US70c yesterday after hitting the US69.40c 10 month high, but the US dollar rallied as US data strengthened the case against the Federal Reserve cutting interest rates early next year to prop up the economy.
Today the yen edged down against the greenback after the Bank of Japan's tankan survey showed improved business sentiment but failed to alter expectations that the BOJ will keep interest rates on hold next week.
5pm today 5pm yesterday
NZ dlr/US dlr US68.85c US69.40
NZ dlr/Aust dlr A88.06c A88.21c
NZ dlr/euro 0.5236 0.5252
NZ dlr/yen 81.15 81.51
NZ dlr/stg 35.11p 35.28p
NZ TWI 67.94 67.82
Australian dollar US78.19c US78.63c
Euro/US dollar 1.3148 1.3210
US dollar/yen 117.88 117.49
- NZPA